completed contract accounting method

A method of reporting profit or loss on certain long-term contracts by recognizing gross income and expenses in the tax year that the contract is completed. [Cases: Internal Revenue 3101; Taxation 1078. C.J.S. Internal Revenue §§ 21, 24–26; Taxation § 1759.]

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词条贡献者

资深译员陈鹏，毕业于国内顶尖的高级翻译学院，擅长翻译各类与全球贸易及投资相关的法律文件。