Input Method
Input Method
The ASC 606 Standard
Measuring project progress based on the entity's efforts or inputs relative to the total expected inputs. It is often calculated using labor hours expended or costs incurred.
The Real-World Scenario
You estimate a project will take 1,000 engineering hours; when your team hits 200 billed hours, you recognize 20% of the contract value.
The Spreadsheet Breaking Point
Manually calculating the ratio of incurred costs to total expected costs every month for dozens of projects crashes spreadsheets.
The Hidden Cost to the Bottom Line
Mistakes in input tracking mean you fail to defend exactly how much revenue you have earned to auditors.
How GAAPX Eliminates the Risk
Automatically calculates the exact ratio of incurred costs from timesheets to project totals, instantly adjusting recognized revenue.