IFRS vs GAAP spreadsheet
- Thread starter pasaré
- Start date
njlevel posted it above… cant believe no one is seeing the link..
http://www.mediafire.com/?wyyyjjozywm
http://www.mediafire.com/?wyyyjjozywm
Factor hedge
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- Jun 18, 2026
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please mail the spreadsheet
[email protected]
[email protected]
fullofquestions
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- Jun 18, 2026
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For IFRS “Construction Contracts across multiple Accounting Periods,” this spreadsheet states,
“”If Revenues and Costs can be reasonably estimated
Percentage Completion Method is used
If not then
Revenue recognized to the extent of Costs incurred
Profits to be recognized at Contract Completion”
”
I believe that percentage completion method is the same as ‘revenue is recognized to the extent of costs incurred.’
Could someone please confirm if the spreadsheet is correct, and if so, what the difference is between percentage completion method vs. ‘revenue is recognized to the extent of costs incurred.’
“”If Revenues and Costs can be reasonably estimated
Percentage Completion Method is used
If not then
Revenue recognized to the extent of Costs incurred
Profits to be recognized at Contract Completion”
”
I believe that percentage completion method is the same as ‘revenue is recognized to the extent of costs incurred.’
Could someone please confirm if the spreadsheet is correct, and if so, what the difference is between percentage completion method vs. ‘revenue is recognized to the extent of costs incurred.’
No the two methods are very different. Difference lies in how the profits are recognized each year. In % of completion method, profits are allocated to each year in proportion to the contract completed during the year. Whereas, in completed contract method, under IFRS, no profit is recognized till the project is completed.
fullofquestions
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- Jun 18, 2026
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SpyAli, I think you misread the question altogether. I am asking if there is any difference between:
percentage completion method vs. ‘revenue is recognized to the extent of costs incurred.’
…
percentage completion method vs. ‘revenue is recognized to the extent of costs incurred.’
…
SpyAli Wrote:
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> I don’t think so.
> “revenue is recognized to the extent of costs
> incurred” method and “Completed Contract method”
> are one and the same thing “under IFRS”.
They are not the same thing. Completed contract means you don’t record any revenue or profits until the project is complete. Extent of costs incurred means you only recognize revenue equal to your costs. IFRS uses the latter.
——————————————————-
> I don’t think so.
> “revenue is recognized to the extent of costs
> incurred” method and “Completed Contract method”
> are one and the same thing “under IFRS”.
They are not the same thing. Completed contract means you don’t record any revenue or profits until the project is complete. Extent of costs incurred means you only recognize revenue equal to your costs. IFRS uses the latter.