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Message: Questions on the backlog

Thanks Peter,

This is a fair answer.

To clarify on the percentage of completion method, if you are paid for example, 2 million for a 2 million project but are only 60% complete on the project then you would record 1.2 million in revenue for that but have 2 million in cash on hand correct? You recognize revenue based on percentage completion of the projects regardless of how much you have been paid in total for a project?

What is the surplus cash recorded as that might be paid in advance of project completion or lack of cash if the customer is falling behind for example?

Sorry if this question is out of scope im just trying to get a better handle on how everything lines up.

Thanks as always for taking time out to answer

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