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To: Jack Zahran who wrote (6345)11/20/1997 6:04:00 PM
From: Trippi  Respond to of 31646
 
OFF TOPIC
back from the honeymoon and lurking again.

Trippi



To: Jack Zahran who wrote (6345)11/21/1997 4:36:00 AM
From: JDN  Read Replies (1) | Respond to of 31646
 
Dear Jack: Under the Completed Contract method of accounting all Revenues AND ASSOCIATED costs are Deferred until contract complete. Thus, UNLESS, contract is shown to indicate a potential loss upon completion no costs associated would be booked. However, in a rapidly expanding company their are INCIDENTAL costs which also increase like telephone, postage, clerical etc and these are NOT deferred. JDN