Percentage of Completion Method Completed Contract CPA exam Simulation

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  • čas přidán 6. 08. 2024
  • In this video, I discuss percentage of completion method.
    The percentage of completion method is an accounting method in which the revenues and expenses of long-term contracts are recognized as a percentage of the work completed during the period.
    ✔️Accounting students and CPA Exam candidates, check my website for additional resources: farhatlectures.com/
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    #CPAEXAM #intermediateaccounting#accountingstudent

Komentáře • 5

  • @michelledthomas155
    @michelledthomas155 Před 3 lety +3

    Thank you so much. I am a subscriber and appreciate your videos. #highlyrecommended

    • @AccountingLectures
      @AccountingLectures  Před 3 lety +1

      Are you studying for the CPA exam? Are you aware of my website? Www.farhatlectures.com

    • @michelledthomas155
      @michelledthomas155 Před 3 lety +1

      @@AccountingLectures yes, I am studying and I am a paid subscriber 😀😀 thank you for taking the time to provide clear and concise videos.

  • @sullyd.225
    @sullyd.225 Před 3 lety +1

    This is already confusing. In your example you are adding cost incurred to date to estimated cost to complete to get 27.29% completed. However, other sources give examples that do not add the two together. The cost incurred to date is divided by estimated cost to complete. Following the other sources formula in your example i would divide 563k by 1.5M to get 37.53% complete. Which is correct?

    • @andvari1056
      @andvari1056 Před 3 lety +4

      In the other examples, are you sure it’s not total cost as opposed to estimated cost to complete? Because the formula is= cost to date/total cost. You just have to figure out total cost. Sometimes it’s given and sometimes you have to re-calculate it like here. Hope this helps