Tag Archives: percentage-of-completion accounting

Matt Taibbi discusses his recent article, Bank of America: Too Crooked to Fail, on Democracy Now, March 22, 2012. Video with review.

In his recent article appearing in “Rolling Stone”, “Bank of America: Too Crooked to Fail”, reporter Matt Taibbi accuses Bank of America of defrauding “everyone from investors and insurers to homeowners and the unemployed”, and leaves the viewer with the inevitable question, why does our government not only allow these banks to continue in existence but, in fact, continue to support them at all costs. Continue reading

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How to Implement the Percentage-of-Completion Method of Accounting

The percentage-of-completion method is generally the required method of financial and tax accounting of larger construction companies for long-term contracts. Its justification relies largely on the matching principle in accounting, where revenues and expenses are matched in the applicable accounting … Continue reading

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