You are conducting a seminar for health spa accountants on how to determine net income for long-term service contracts using the proportional performance method.
Required:
a.Describe the different ways revenue can be recognized on long-term service contracts using proportional performance.
b.Discuss how the different types of long-term service contract costs are recognized as expenses.

Question

You are conducting a seminar for health spa accountants on how to determine net income for long-term service contracts using the proportional performance method.
Required: 
a.Describe the different ways revenue can be recognized on long-term service contracts using proportional performance.
b.Discuss how the different types of long-term service contract costs are recognized as expenses.

Quizplus · Accepted Answer

The Answer of You are conducting a seminar for health spa accountants on how to determine net income for long-term service contracts using the proportional performance method.
Required: 
a.Describe the different ways revenue can be recognized on long-term service contracts using proportional performance.
b.Discuss how the different types of long-term service contract costs are recognized as expenses.

You Are Conducting a Seminar for Health Spa Accountants on How