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Question added by Deleted user
11 years ago

What are the ailments and drawbacks of Accrued Income in revenues recognition in contracting companies ?‎

While recognizing Revenue of a project having life of over ONE Year, it gives a tough time to adjust accrued income against revenues, therefore there would be need to exe‎ ... See More

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Question added by Kripesh Krishnan Kutty Nair Merchandiser Al Seer Group
11 years ago
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Question added by suhaib A.B. Computers Maintenance Technical (IT software&hardware), Printing, internet Scientific Bureau
11 years ago
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Muhammad Rizwan Rizwan's image  
Answer added by  Muhammad Rizwan Rizwan, Assistant Accountant, National Rural Support Program
11 years ago

Peachtree

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Answer added by  James Mwangi , junior accountant, HENRY SMITH &WILSON AUDIT FIRM
4 years ago

Its cumbersome to account for accrued revenues for big projects running for more than one year eg construction projects

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Answer added by  Ramy Chami, Sr. Projects Director, Egis
11 years ago

It all depends on tax brackets, and how revenues are collected against what is claimed.