Maurice Tutor

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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 30 Oct 2017 My Price 7.00

longterm construction contracts

Judgment Case 5–12

Revenue recognition; longterm construction contracts

Two accounting students were discussing the timing of revenue recognition for long-term construction contracts. The discussion focused on which method was most like the typical revenue recognition method of recognizing revenue at the point of product delivery. Bill argued that recognizing revenue upon project completion was preferable because it was analogous to recognizing revenue at the point of delivery. John disagreed and supported recognizing revenue over time, stating that it was analogous to accruing revenue as a performance obligation was satisfied. John also pointed out that an advantage of recognizing revenue over time is that it provides information sooner to users.

Required:

Discuss the arguments made by both students. Which argument do you support? Why?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 30 Oct 2017 10:10 PM My Price 7.00

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