A contracting firm anticipates that it will incur costs in excess of the contract price...
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Accounting
A contracting firm anticipates that it will incur costs in excess of the contract price on a particular contract. The firm has completed two years of work but the contract is only 60% complete. What portion of the entire anticipated loss is recognized as of the end of the second year? Which section of the authoritative literature best describes this situation and provides the appropriate guidance?
In general, the accounting for stock option plans and other share-based payment plans must reflect the rights provided to the recipient of the shares. Would there be any difference between (1) a contract that conveyed shares to an employee in return for a note receivable with recourse to the shares, and (2) a grant of equity shares to the employee?
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