Long-term Contract Accounting Methods Percentage of completion method Reported in each year of contract based on LAW estimated percentage of completed work Any taxpayer may use Only available for Contracts entered into before July, 11 1989 Certain residential contractsLong-term Contract Accounting Methods • Percentage of completion method – Reported in each year of contract based on estimated percentage of completed work – Any taxpayer may use – Only available for • Contracts entered into before July, 11 1989 • Certain residential contracts