This video from Commerce Specialist is on Accounting for Long Term Contracts. Detailed discussion is done about Accounting Standard Codification ASC 606. Explanation is given on the Difference between a Point in time and Over-time contracts, the difference between IFRS 15 and ASC 606, the 5 step revenue recognition model, how to calculate percentage completion under cost to cost method, how to calculate contract gross profit, how to determine how much of gross profit to recognize in a particular year etc.
This video is relevant for students of CMA part 1, CIMA, CPA, CA, ACCA and students of other professional qualifications.
LINK TO JOIN MY DEDICATED PAID GROUP:
[ Ссылка ]
To support my channel, Buy my merch, link is given below:
[ Ссылка ]
My website's link:
[ Ссылка ]
Contact me on: info@comparativeedge.com
#asc606 #longtermcontracts #commercespecialist
