Percentage Completion Method | ASC 606 | Revenue Recognition Over-time & At a point in time

Percentage Completion Method | ASC 606 | Revenue Recognition Over-time & At a point in time | CMA 1

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Жыл бұрын

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.
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Пікірлер: 21

@Ishank84 8 күн бұрын

Perfect Sir, Thankyou

@RogerNzally 7 ай бұрын

Thank you so much. If I’m in doubt about anything in accounting I come to your channel and you explain it very clearly. Thank you.

@CommerceSpecialist 6 ай бұрын

😊👍🙏

@smithkaupa2299 10 ай бұрын

Love watching your best lectures in all aspects of accounting ...I am learning so much from you ... really love attending your lectures on ur KZfaq channel

@CommerceSpecialist 10 ай бұрын

Thanks for watching dear🙏😊👍

@Vanshi_life.2003 Ай бұрын

ossm explaination

@CommerceSpecialist Ай бұрын

Thx dear

@eliasdegazon643 8 ай бұрын

Excellence personified

@CommerceSpecialist 8 ай бұрын

Thanks a lot my dear🙏👍

@peternwanji1880 4 ай бұрын

Beautiful lecture but the second example was not clear enough especially when you were solving, the camera didn't capture that other important part of the computation. However.,sir, u are the best! Your video lectures are self explanatory. Thank you so much.

@CommerceSpecialist 4 ай бұрын

Thanks a lot, will try to fix camera issue👍🙏

@AsadAnsari-vs6ve 6 ай бұрын

Hi Sir I just subscribed your channel after watching this video. It was really informative. Thanks sir. Can you pls tell us the journal entries for 2020, 2021 and 2022 plz

@simplegirl-go7gf 6 ай бұрын

how to calculate contra asset and contra liability at a point in time can u explain in video

@muhammadzulfiqarahmed5501 11 ай бұрын

Dear sir, ASC606 fulfills the requirements of IFRS 15? Moreover ASC606 and IFRS 15 both have same point of view while recognising the reveues from long term contracts of construction or AMCs. Please advise. Thanks

@CommerceSpecialist 11 ай бұрын

Mostly but not fully, as in IFRS 15 disclosure requirements are different