Percentage of Completion Method: Losses Scenarios

In this session, I discuss percentage of completion method: losses scenarios.
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[@OS-xx6nq]

This video has almost 5,000 views and only 57 likes. Be grateful and hit the Like button to show your appreciation for the great job done explaining the POC concept.

[@elizabethhugeback-braddock1647]

This is so helpful! Thank you for helping understand how to adjust the costs for the year where the loss occurred!

[@AccountingLectures]

Glad it was helpful! Thank You. For more, visit my website at: www.farhatlectures.com

[@crocodilly]

Hi, is this method of recognising onerous contracts still applicable under the current IFRS15 and ias37 climate? thanks!

[@michaeljeter502]

Can I amend my client's business return for prior years to reflect this method as the previous accountant filed a straight cash = revenue method?

[@nivasgowda6105]

Hi Farhat, Thanks for your Amazing videos, Just had one doubt with respect to the 3rd scenario here, what if the cost incurred for the 3rd year was 183,000 instaed of 181,000. ? How do we recognise the additional 2000 expense

[@AjaySingh-nh1yk]

Hi Farhat. It's really wonderful. Just small clarification. In 2nd year total estimated cost should be 450 plus 181 I.e 631ke whereas you have considered 490 plus 181. Why.