Percentage of Completion Method Tutorial

[@boybakergg]

Dr. Farhat, words cannot express my gratitude! I need to try your course!

[@AccountingLectures]

Please do! Thank you and please visit the website for more farhatlectures.com/

[@mohamedizzel-deen620]

Dr. Farhat, I deeply thank you for this videos you cannot imagine how far it's useful for me. would you please clarify how did you calculate billing of construction?

[@junyoungchoi7638]

What if actual costs ended up less than total estimated costs?

[@NikithaCV]

This was really helpful. Thank you so much Dr. Farhat Sir

[@AccountingLectures]

Thank you and please visit the website for more farhatlectures.com/

[@minima8190]

Hello, very nice to know the accounting method to do POC. Most businesses I've worked in don't bother to maintain construction in progress a/c separately. The revenue billing is considered the POC and cost taken to COGS is determined by the same % or that forms the basis for the revenue % billing. May I know the few companies that actually do practice this method for personal knowledge.

[@mugandaje]

This is GAAP, so any company that’s publicly traded (issues stock) must use this method

[@andrejreed8802]

Clear and concise. Nicely done!

[@AccountingLectures]

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[@alicezhang2292]

This video is a life saver!

[@AccountingLectures]

Most welcome . Please take a look at my website for more resources: farhatlectures.com/

[@malbitar73]

Excuse me CIP in third year is 800K not 1000 K ..it represent the cost incurred

[@olivia6560]

For the balance sheet part, according to the becker, CIP = cost + estimated earning, why do we not add earning of 66,667 for first year and cost of $200,000 for CIP in the question?

[@olivia6560]

Thank you so much for your video. It's helpful

[@claire1388]

the 66,667 profit is included in the income statement entry.

[@user-ww8cj7nx2f]

How to calculate progress billing during the year and cash collected during the year? thank you

[@HongChuyen-dk2xi]

Thank you so much. I pretty appreciate your lecture. It's do much better tag Tim Gearty

[@AccountingLectures]

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[@abubakrothman5235]

Thx Dr Farhat

[@AccountingLectures]

Most welcome. Please connect with me: linktr.ee/farhatlectures

[@user-jd7ln1oj6m]

Great, man, thanks!

[@AccountingLectures]

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[@user-ly9ip7dn9g]

Life saver 💌

[@AccountingLectures]

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[@tasnimultarek7345]

Could you elaborate on how you got 1M for CIP? If I'm not mistaken, I thought it'd be 800k

[@earlybirdy9595]

Thank you!

[@maalimsopay1655]

you are so faster Sir please reduce The speed

[@roseb.5367]

👏🏾👏🏾👏🏾👏🏾 thank you