Under the completed contract method, billings and costs are accumulated on [...] rather than flowing through the income statement
the balance sheet
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3.2.1. Long-Term Contracts the completed contract method, the company does not report any income until the contract is substantially finished (the remaining costs and potential risks are insignificant in amount), although provision should be made for expected losses. <span>Billings and costs are accumulated on the balance sheet rather than flowing through the income statement. Under US GAAP, the completed contract method is also acceptable when the entity has primarily short-term contracts. Note that if a contract is started and completed in the same period,
last interval [days]
repetition number in this series
scheduled repetition interval
last repetition or drill
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