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What are the disadvantages of the percentage of completion method?

Construction Accounting Property Accounting
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Question added by Abdullah Mahhaden, CFA, CPA , Assurance Manager , Grant Thornton
Date Posted: 2013/06/17
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Ravi Chhantel
by Ravi Chhantel , Assistant Finance Manager , Tiger Palace Resort

Construction contracts takes more than a year to complete.Therefore it is difficult to determine revenue and cost that needs to charged.

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