Real Estate Profits: Use Percentage Completion Method When Risks and Rewards Shift Irreversibly to Buyer.

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....Determination of correct profits - percentage completion method - real estate development - when a stage is arrived that risk and rewards shift from the developer to buyer irreversibly, then project revenue and project cost associated with the real estate project should be recognised as revenue and expenses by reference to the stage of completion of the project activity at the reporting date. - AT....