Define: Costs in Excess of Billings
Costs in Excess of Billings means the revenue earned and not billed in a contract, following GAAP and recorded in the latest balance sheet.
Legal accuracy standard set & glossary spot-checked by Imad Mohammed Nazar , Skadden-trained M&A lawyer, Legal Engineer at GenieAI
Costs in Excess of Billings means the revenue earned and not billed in a contract, following GAAP and recorded in the latest balance sheet.
Relevant Circumstances
- Long-term supplier agreements
- Consulting appointments with staggered invoicing
- Construction projects where payment schedules differ from work completion