dcfox83

Percentage of completion is a method of accounting for LT contracts under US GAAP and IFRA when the outcome of the project can be predicted reliably.

Installment sales is a method of accounting for sales (as in general goods and services), where consumation of the sale is not over an extended period. The handover of inventory is immediate, but only payments are received over a period of time.

Good question. Not too many people look into such subtleties. I am impressed.