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Percentage-Of-Completion Method
An accounting method used to recognize revenues and expenses of long-term projects proportionate to the work completed during the period.
Contract Costs
Expenses directly related to securing and executing a contract, including labor, materials, and overheads.
Estimated Total
A projected computation or guess of the final amount or value.
GAAP
Generally Accepted Accounting Principles, the standard framework of guidelines for financial accounting used in any given jurisdiction.
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