PERCENTAGE OF COMPLETION METHOD
\pəsˈɛntɪd͡ʒ ɒv kəmplˈiːʃən mˈɛθəd], \pəsˈɛntɪdʒ ɒv kəmplˈiːʃən mˈɛθəd], \p_ə_s_ˈɛ_n_t_ɪ_dʒ ɒ_v k_ə_m_p_l_ˈiː_ʃ_ə_n m_ˈɛ_θ_ə_d]\
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A method used for recognizing the revenue gained on any contract that has been completed over more than a single period of accounting. This method is appropriate when the total cost of the performance of the contract and the profit that can be realized is reasonable and can be predicted easily.
By Henry Campbell Black
