"Where Everyone Has an MBA"
Tel: (612) 246-4616
Tel: (612) 246-4616
PERCENTAGE OF COMPLETION METHOD OF ACCOUNTING is instituted if your revenues exceed $10,000,000 (3-year average) or your contracts will not be completed within a two-year period, you are generally required to use the percentage of completion accounting for contracts. There are many advantages to using to percentage of completion method including: a. It is the best measurement of income; b. Percentage of completion normally needs to be computed for financial statement purposes eliminating confusing timing differences from tax to financial statements; c. There is no increase in alternative minimum taxable income; d. Losses can be recognized on contracts before the job is complete; e. It is useful in leveling taxable income, permitting use of lower tax brackets each year. When using the percentage of completion method, it is important to carefully compute the percent complete, for it may have a great impact on your taxable income. Estimated costs to complete the contract, a component of calculating the percent to complete, determine what your taxable income will be. Also, carefully reviewing the over-head allocation may result in lower tax.
DPS see DIVIDENDS PER SHARE.
OTCBB is an electronic quotation medium for unlisted, over-the-counter securities. The OTC Bulletin Board allows Market Makers to display firm prices for domestic securities, foreign securities, and ADRs that can be updated on a real-time basis. The service also permits the display of non-firm prices for DPPs, unpriced indications of interest, and telephone numbers for participating Market Makers.
Enter a term, then click the entry you would like to view.