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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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Kripesh Krishnan Kutty Nair's image
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

James Mwangi's image  
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

Ramy Chami's image  
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.