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Finance | Project Operations, Human Resources, ...
Unanswered

Understanding Of percentage complete accounting rule for Fixed price projects

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Hello 
 
If we have a project set up as fixed price project using Completed percentage.
 
Is it possible for you to have the following 
 
  • Provision for losses made at each revenue recognition period 
  • Ability to define the costs you would like to recognise along with the revenue - ie if recognising 10% revenue but have incurred 20% costs - how do you get the system to only recognise 10% costs with the revenue?
  • Is there a way to only input the forecast to go when you are uploading for the new period?
Many thanks 

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