2022 CPA FAR Exam-Revenue Recognition-Long Term Construction- Percentage of Completion- Darius Clark

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  • เผยแพร่เมื่อ 5 ธ.ค. 2024

ความคิดเห็น • 6

  • @SANTOSHPATEL-rb1bu
    @SANTOSHPATEL-rb1bu 2 ปีที่แล้ว +1

    Excellent explanation Darius...Cheers and thank you

  • @cweinberg10
    @cweinberg10 3 หลายเดือนก่อน

    So if CIP is greater than Progress billings does that basically mean you have underbilled the client? I.e. you have a current asset because you over-performed service, you have done $500,0000 worth of work but only billed $50k so you have the capacity to bill an additional $450,000 to fully account for work performed

  • @LuxxomannLU
    @LuxxomannLU หลายเดือนก่อน

    Thank you

  • @LyleSiegel
    @LyleSiegel 2 ปีที่แล้ว +2

    What would happen if the construction was operating at a loss?

    • @mohamedmunye6372
      @mohamedmunye6372 2 ปีที่แล้ว +7

      Recognize it immediately reducing your profit.

    • @Tom-nn5wd
      @Tom-nn5wd 3 หลายเดือนก่อน

      @@mohamedmunye6372have to make sure your loss is big enough to back out prior revenue as well if the contract is at an expected overall project loss