We are using fixed price projects and perform the estimation with total budget-actual calculation methods.
We want to recognize only a partial amount of the cost based on the client acceptance, which is not always the total amount of the transactions recorded in the work in progress (WIP) accounts.
We haven’t find a way to recognize a partial amount of the WIP. Ā We know that we could perform this for revenues, however we the estimate always recognize the total amount of the WIP.
We perform long projects and based on the transference fees and the new policies of audits, it is necessary to perform partial cost recognition.
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