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It depends upon the Revenue recognistion model you follow for perticular business unit.
It can be Completed contract method or Percentage of completion.
Please specify and elaborate your problem and I will explain you further.
when it is earned by providing services or goods..
in projects,
1- Revenue and cost should be reocrded on the basis of stage of project completion method
2- in the condition of loss revenue should be recognized on the basis of completion method and entire loss should be booked imidiately in income ststement
I hope this may be helpful
Regards,
wakel Ahmed
Percentage of completetion method should be used to recognize revenue in project accounts.
