Input method and Output method are the two method can be used to estimate progress toward completion for the purpose of recognizing revenue over time.
What is Output method?
- The Output method measures results as control of easily measurable and observed commodities or services is transferred in comparison to the total estimated outputs needed to execute the contract.
- It focuses on the direct value transferred to a client. Achieved milestones may be included in the outputs. The contractual power to invoice may occasionally be utilized as a practical shortcut to recognize revenue. Correlating revenue recognition with actual, meaningful contract performance is the goal.
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