Contract Type | Work Type | Revenue Recognition Policy | ||
Time and Materials | Consulting | As incurred at contract rates. | ||
Fixed Price | Consulting | Percentage of completion, approximating the ratio of either total costs or Level of Effort (LOE) hours incurred to date to total estimated costs or LOE hours. | ||
Cost-Type | Consulting | Costs as incurred. Fixed fee portion is recognized using percentage of completion determined by the percentage of LOE hours incurred to total LOE hours in the respective contracts. |