Percent complete definition

Percent complete means that revenue is recognized as income at the rate the job is completed. Job costs are recognized at the rate they are incurred in ratio to both revenue recognized and total job costs expended to date, plus what is estimated to be incurred to complete the job. Your balance sheet will have an asset entitled "costs in excess of billings," meaning that you have costs you have not or cannot bill right now to the customer on jobs in progress. A liability account, or "billings in excess of costs" means that the contractor has billed the customer for work not yet done which is where all contractors would prefer to be placing the contractor ahead of the customer on a cash flow basis.
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Percent complete means the percentage of the Development substantially completed as of the applicable calculation date based upon the (x) Hard Costs described under the Line Item labeled “Construction Improvements” that have been incurred as of such date in accordance with the Project Budget divided by the (y) total amount set forth for such Hard Costs described under such Line Item.
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Examples of Percent complete in a sentence

  • For each project, discuss the following at the task level, as organized in Exhibit A: • Percent complete (by work) • Discussion of work accomplished during the reporting period.

  • For the Project, or each component, discuss the following at the task level, as organized in Exhibit A: • Percent complete estimate.

  • Discuss the following at the task level, as organized in Exhibit A Work Plan: • Percent complete estimate.

  • Client Name/ Project Name Contract # Type of Work Uncompleted Portion of Work ($000) Percent complete to date (%) Design Subtotal $ Design Subtotal $ OTHER: Includes Traffic Engineering and Planning Services, Traffic Engineering & Safety, Environmental Engineering, Sub-surface exploration, Utility Engineering, Topographic Survey, Urban Design/Landscape Architecture, Value Engineering and other engineering design services.

  • For each project, discuss the following at the task level, as organized in Exhibit A (Work Plan): • Percent complete estimate.

  • For each project, discuss the following at the task level, as organized in Exhibit A Work Plan: • Percent complete estimate.

  • Percent complete of the Length of stay – hospitalization variable collected across three years by type of surveillance system.

  • Percent complete shall be used to show activity progress as of the status date.

  • For each project, discuss the following at the task level, as organized in Exhibit A: • Percent complete estimate.

  • Percent complete for service utilization variables collected in year 1 by type of surveillance system used.