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?
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.
I am sorry but if the builder is biased and he expects the total costs to be a low amount against a high revenue, so with a tiny payment he does on the expected costs, he achieves a high percentage to recognize a higher revenue, is there a thing I didn’t get it ?
Dr. Farhat, words cannot express my gratitude! I need to try your course!
Please do! Thank you and please visit the website for more farhatlectures.com/
Best video I've seen ever on the subject - excellent presentation and completeness. Excellent review for me, thank you!
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Well done
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?
This was really helpful. Thank you so much Dr. Farhat Sir
Thank you and please visit the website for more farhatlectures.com/
Clear and concise. Nicely done!
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This video is a life saver!
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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.
This is GAAP, so any company that’s publicly traded (issues stock) must use this method
Great, man, thanks!
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Great explanation ! but definitely lots to take in.... if this is "simple", i can't imagine a complex one. RIP
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Thx Dr Farhat
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How to calculate progress billing during the year and cash collected during the year? thank you
Thank you so much. I pretty appreciate your lecture. It's do much better tag Tim Gearty
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Life saver 💌
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What if actual costs ended up less than total estimated costs?
That's my question too
I am sorry but if the builder is biased and he expects the total costs to be a low amount against a high revenue, so with a tiny payment he does on the expected costs, he achieves a high percentage to recognize a higher revenue, is there a thing I didn’t get it ?
Thank you!
Could you elaborate on how you got 1M for CIP? If I'm not mistaken, I thought it'd be 800k
Excuse me CIP in third year is 800K not 1000 K ..it represent the cost incurred
you are so faster Sir please reduce The speed
👏🏾👏🏾👏🏾👏🏾 thank you