Question
I need your help to explain this : i want to ask a question about revenue recognition to see whether my logic thought is right
I need your help to explain this :
i want to ask a question about revenue recognition to see whether my logic thought is right :
For long-term construction contract: 1. percent completion is over time, but upon completion is a single time. ( both is single performance obligation)
2 percent completion is ( input method) , but upon completion is ( output method )
similar to painting house: it is a single time for revenue recognition and it is the output method ( single obligation)
am I right? or my logic thought is wrong please explain to me if I am wrong
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