PLEASE TRY TO SLOVE IT

Case 3

1. Locate a recent annual report of a Construction Company.

2. Give a brief introduction of the company and its recent significant projects.

3. Explain revenue recognized over time and revenue recognized upon completion of contract. In the case of longterm construction contracts, which is the preferrable method for revenue recognition and why?

4. Is the revenue recorded at a point in time or over a period of time by the company?

5. On what line of the Companys income statement is revenue reported? What was the amount of revenue reported? What are the different components in the revenue reported. Explain.

6.Examine the Balance Sheet and identify the current assets and non-currents related to construction contracts.

7.Examine the Balance Sheet and identify the liabilties related to construction contracts.

NOTE: Take a screenshot from the annual report and paste it for questions 4 to 7 to support your answers.