Intermediate

Construction POC (Percentage of Completion) Logic

Calculates revenue recognition for long-term construction projects using the cost-to-cost method. Designed for project accountants.

Calculate the revenue to be recognized for the current period for Project {project_name}. Total Contract Value: {total_contract}. Total Estimated Costs: {total_est_costs}. Costs Incurred to Date: {actual_costs_to_date}. Costs Incurred in Prior Periods: {prior_costs}. Use the cost-to-cost (Percentage of Completion) method and provide the journal entry.

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