{"id":9413,"date":"2026-06-03T02:23:31","date_gmt":"2026-06-03T02:23:31","guid":{"rendered":"https:\/\/scaleocean.com\/ph\/blog\/?p=9413"},"modified":"2026-06-05T02:40:42","modified_gmt":"2026-06-05T02:40:42","slug":"percentage-of-completion-method","status":"publish","type":"post","link":"https:\/\/scaleocean.com\/ph\/blog\/industry\/percentage-of-completion-method","title":{"rendered":"Percentage of Completion Method: PH Guide with Examples"},"content":{"rendered":"<p>Percentage of Completion Method is one of the <strong>well-known payment methods<\/strong> in the construction industry. It is because, this type of payment that is helpful to maintaining long-term financial projects, such as the construction industry.<\/p>\n<p>For many Philippines construction companies, this method improves financial reporting, cash flow visibility, and project monitoring. This article will explain the <strong>Percentage of Completion Method<\/strong> and how to optimize it for construction\u2019s financial flow.<\/p>\n<div class=\"box-article-points\" style=\"background: #0d58a2; border-radius: 16px;\">\n<div class=\"heading-article-points\" style=\"display: flex; color: #fff;\"><img loading=\"lazy\" decoding=\"async\" src=\"\/sg\/blog\/wp-content\/uploads\/2025\/03\/icon-key-ta.webp\" alt=\"stars\" width=\"30\" height=\"30\" \/>Key Takeaways<\/div>\n<div class=\"content-article-points\" style=\"background-color: #f6f9ff;\">\n<ul>\n<li><a href=\"#percentage-of-completion-method\"><strong>Percentage of Completion Method (PCM) is<\/strong><\/a> an accounting method that recognizes revenue and expenses based on project progress.<\/li>\n<li><a href=\"#percentage-of-completion-method-used\"><strong>PCM is a payment method<\/strong><\/a> for long-term construction projects with measurable progress, defined contract values, and reliable cost estimates.<\/li>\n<li><a href=\"#percentage-of-completion-formula\"><strong>Contractors can calculate<\/strong><\/a> project completion using cost-to-cost, efforts-expended, or units-of-delivery approaches, depending on project requirements.<\/li>\n<li><strong>ScaleOcean Construction Accounting ERP Software<\/strong> helps construction companies streamline invoicing, budgeting, &amp; cost tracking in one integrated system.<\/li>\n<\/ul>\n<p><a class=\"cta-link-button\" href=\"https:\/\/scaleocean.com\/ph\/request-demo\/\" target=\"_blank\" rel=\"noopener\">Request a Free Demo!<\/a><\/p>\n<\/div>\n<\/div>\n<a href=\"https:\/\/scaleocean.com\/ph\/request-demo\/?web_medium=article-banner\" target=\"_blank\"><picture>\r\n    <source media=\"(max-width: 576px)\" srcset=\"https:\/\/scaleocean.com\/sg\/blog\/wp-content\/uploads\/2025\/01\/erp-general-sg-m.webp\">\r\n    <source media=\"(min-width: 577px)\" srcset=\"https:\/\/scaleocean.com\/sg\/blog\/wp-content\/uploads\/2025\/01\/erp-general-sg.webp\">\r\n    <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/scaleocean.com\/sg\/blog\/wp-content\/uploads\/2025\/01\/erp-general-sg.webp\" alt=\"requestDemo\" class=\"responsive-image-banner\">\r\n\t<\/picture><\/a>\n<h2><strong>1. What is the Percentage of Completion Method?<\/strong><\/h2>\n<p><span id=\"percentage-of-completion-method\"><\/span>The Percentage of Completion Method is an <strong>accounting method<\/strong> to recognize revenue and expenses based on long-term projects. As a result, it is commonly applied in the Philippines for the construction industry that has long-term contracts.<\/p>\n<p>Contractors estimate project completion using <strong>several measurements<\/strong>, such as project costs incurred, labor hours completed, or units delivered. After the work\u2019s done for several percent, then the company recognizes revenue and expenses for the report.<\/p>\n<p>In addition, the <strong>PCM method<\/strong> is often connected with accounting for construction businesses because construction accounting requires detailed monitoring of project budgets, contracts, progress billing, and cost allocation.<\/p>\n<p>This approach is also aligned with <a href=\"https:\/\/www.ifrs.org\/issued-standards\/list-of-standards\/ifrs-15-revenue-from-contracts-with-customers\/\"><strong>IFRS 15 Revenue from Contracts with Customers<\/strong><\/a>, which allows revenue to be recognized over time when performance obligations are satisfied and project progress can be measured reliably.<\/p>\n<h2><strong>2. When Should the Percentage of Completion Method be Used?<\/strong><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-9417 size-full\" src=\"https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/06\/when-should-the-percentage-of-completion-method-be-used-1.webp\" alt=\"when should the percentage of completion method be used\" width=\"847\" height=\"460\" srcset=\"https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/06\/when-should-the-percentage-of-completion-method-be-used-1.webp 847w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/06\/when-should-the-percentage-of-completion-method-be-used-1-300x163.webp 300w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/06\/when-should-the-percentage-of-completion-method-be-used-1-768x417.webp 768w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/06\/when-should-the-percentage-of-completion-method-be-used-1-773x420.webp 773w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/06\/when-should-the-percentage-of-completion-method-be-used-1-150x81.webp 150w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/06\/when-should-the-percentage-of-completion-method-be-used-1-696x378.webp 696w\" sizes=\"auto, (max-width: 847px) 100vw, 847px\" \/><\/p>\n<p><span id=\"percentage-of-completion-method-used\"><\/span>After understanding the PCM, it is also important to know<strong> when this accounting approach<\/strong> should be applied. This method is commonly used for medium and large-scale construction projects. Here are some conditions suitable for applying PCM:<\/p>\n<ul>\n<li>The contract value is <strong>clearly defined<\/strong>.<\/li>\n<li>Project costs can be<strong> estimated accurately<\/strong>.<\/li>\n<li>Payment terms are<strong> agreed upon<\/strong>.<\/li>\n<li>The project <strong>duration extends across multiple<\/strong> accounting periods.<\/li>\n<li>Contractors can measure project <strong>progress consistently<\/strong>.<\/li>\n<\/ul>\n<p><strong>Many Philippines contractors use this<\/strong> method for infrastructure developments, office buildings, condominiums, roads, bridges, and government projects because these projects usually involve phased work completion and progress billing.<\/p>\n<p>This <strong>accounting approach<\/strong> also aligns with various <a href=\"https:\/\/scaleocean.com\/ph\/blog\/industry\/construction-billing\" target=\"_blank\" rel=\"noopener\">construction billing methods<\/a> where contractors issue invoices based on project milestones or completion percentages.<\/p>\n<p>Further, companies who are<strong> handling long-term projects<\/strong> with partial payment arrangements or <a href=\"https:\/\/scaleocean.com\/ph\/blog\/industry\/retainage\" target=\"_blank\" rel=\"noopener\">retainage<\/a> in Construction practices may benefit from the Percentage of Completion Method because it helps monitor tracking.<\/p>\n<h2><strong>3. Percentage of Completion Method Formula<\/strong><\/h2>\n<p><span id=\"percentage-of-completion-formula\"><\/span>The formula used in percentage of completion method is determined by how much <strong>revenue and expense should be recognized <\/strong>during an accounting period. There are several common approaches used to calculate the PCM:<\/p>\n<h3>a. Cost-to-Cost Approach<\/h3>\n<p><strong>The cost-to-cost approach<\/strong> is the most widely used method in <a href=\"https:\/\/scaleocean.com\/ph\/blog\/industry\/construction-accounting\" target=\"_blank\" rel=\"noopener\">construction accounting<\/a>. This method compares costs incurred to date against the total estimated project cost. The formula is:<\/p>\n<p><strong>POC = (Costs incurred to date\/total estimated costs) x 100<\/strong><\/p>\n<p>To make the calculation of this method easier, <strong>here is the example<\/strong>: if a contractor has spent PHP 5 million out of an estimated total project cost of PHP 10 million, the project is considered 50% complete.<\/p>\n<h3>b. Efforts-Expended Calculation<\/h3>\n<p>Another calculation to do in the Percentage of Completion Method is the <strong>effort-expended method<\/strong>. This is to measure labor hours, machine hours, or other efforts-related metrics completed during a project. The formula is:<\/p>\n<p><strong>POC = (Effort expended to date\/estimated total effort) x 100<\/strong><\/p>\n<p>Therefore, here is an <strong>example of an effort-expended method<\/strong>: if workers have completed 4,000 labor hours out of an estimated 8,000 total labor hours, the project is considered 50% complete.<\/p>\n<h3>c. Units-of-Delivery<\/h3>\n<p>Another calculation method that is used in Percentage of Completion is <strong>units-of-delivery<\/strong>. This is to calculate project completion based on measurable items such as the number of apartments completed. The formula usually used is:<\/p>\n<p><strong>POC = (Number of units delivered to date\/total contracted units) x 100.<\/strong><\/p>\n<p>This method is commonly used for repetitive construction projects such as housing developments and modular construction. <strong>For example<\/strong>, if a contractor completes 30 housing units out of 100 planned units, the project is considered 30% complete.<\/p>\n<h2><strong>4. Percentage of Completion Method and Potential for Abuse<\/strong><\/h2>\n<p>Even though the Percentage of Completion Method <strong>makes financial bookkeeping easier<\/strong>, it carries some potential risks of through manipulation or inaccurate estimations. Some common risks include:<\/p>\n<ul>\n<li><strong>Inflated <\/strong>project progress reporting.<\/li>\n<li><strong>Underestimated <\/strong>project costs.<\/li>\n<li><strong>Premature <\/strong>revenue recognition.<\/li>\n<li><strong>Manipulation <\/strong>of financial statements.<\/li>\n<li><strong>Delayed <\/strong>recording of project losses.<\/li>\n<\/ul>\n<p>For this reason, Philippines construction companies should <strong>establish strong internal controls<\/strong>, conduct regular evaluations, and maintain transparent documentation for all transactions.<\/p>\n<p><strong>To support transparency<\/strong>, many contractors also implement <a href=\"https:\/\/scaleocean.com\/ph\/blog\/recommendation\/construction-accounting-software\" target=\"_blank\" rel=\"noopener\">construction accounting software<\/a> to improve tracking accuracy, automate monitoring, and reduce manual calculation errors during financial management.<\/p>\n<a href=\"https:\/\/scaleocean.com\/ph\/construction-management-software?web_medium=article-banner\" target=\"_blank\"><picture>\r\n    <source media=\"(max-width: 576px)\" srcset=\"https:\/\/scaleocean.com\/sg\/blog\/wp-content\/uploads\/2025\/01\/Konstruksi-SG-mobile-400x500-1.webp\">\r\n    <source media=\"(min-width: 577px)\" srcset=\"https:\/\/scaleocean.com\/sg\/blog\/wp-content\/uploads\/2025\/01\/Konstruksi-SG-Dekstop.webp\">\r\n    <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/scaleocean.com\/sg\/blog\/wp-content\/uploads\/2025\/01\/Konstruksi-SG-Dekstop.webp\" alt=\"Construction\" class=\"responsive-image-banner\">\r\n\t<\/picture><\/a>\n<h2><strong>5. Percentage of Completion Method Example<\/strong><\/h2>\n<p><strong>Suppose a construction company<\/strong> in the Philippines signs a contract to build a commercial building for PHP 100 million. The expectation for the project to complete is three years, and the total estimated construction cost is PHP 80 million.<\/p>\n<p>The company applies the <strong>cost-to-cost approach<\/strong> to determine the percentage of completion each year rather than using the <a href=\"https:\/\/scaleocean.com\/ph\/blog\/industry\/completed-contract-method\" target=\"_blank\" rel=\"noopener\">completed contract method<\/a>, which would defer revenue recognition until project completion. Here is the example of Percentage of Completion Method:<\/p>\n<p><strong>Formulas (cost-to-cost approach)<\/strong>:<\/p>\n<ul>\n<li><strong>% complete<\/strong> = Cumulative costs incurred \u00f7 Total estimated cost \u00d7 100<\/li>\n<li><strong>Revenue (cumulative)<\/strong> = % Complete \u00d7 PHP 100M contract price<\/li>\n<li><strong>Revenue (current period)<\/strong> = Cumulative revenue \u2212 Revenue recognized in prior years<\/li>\n<li><strong>Profit (period)<\/strong> = Period revenue \u2212 Period costs incurred<\/li>\n<\/ul>\n<p><strong>Year 1<\/strong><\/p>\n<ul>\n<li><strong>Percentage of Completion <\/strong>= (20 million \u00f7 80 million) x 100 = 25%<\/li>\n<li><strong>Revenue Recognized <\/strong>= 25% x PHP 100 million = PHP 25 million<\/li>\n<li><strong>Gross Profit <\/strong>= PHP 25 million &#8211; PHP 20 million = PHP 5 million<\/li>\n<\/ul>\n<p><strong>Year 2<\/strong><\/p>\n<ul>\n<li><strong>Percentage of Completion <\/strong>= (48 million \u00f7 80 million) x 100 = <strong>60%<\/strong><\/li>\n<li><strong>Revenue Recognized<\/strong>: 60% x PHP 100 million = PHP 60 million<\/li>\n<\/ul>\n<p>Because PHP 25 million was already recognized in Year 1, the additional revenue recognized in Year 2 is: PHP 60 million &#8211; PHP 25 million = <strong>PHP 35 million<\/strong><\/p>\n<ul>\n<li><strong>Gross<\/strong> <strong>Profit <\/strong>= PHP 35 million &#8211; PHP 28 million = <strong>PHP 7 million\u00a0<\/strong><\/li>\n<\/ul>\n<p><strong>Year 3<\/strong><\/p>\n<ul>\n<li><strong>Cumulative costs incurred<\/strong> = PHP 20 million + PHP 28 million + 32 million = PHP 80 million<\/li>\n<li><strong>Percentage of Completion<\/strong> = PHP 80 million \u00f7 PHP 80 million x 100 = <strong>100%<\/strong><\/li>\n<li><strong>Revenue Recognized <\/strong>= PHP 100 million &#8211; PHP 60 million = <strong>PHP 40 million<\/strong><\/li>\n<li><strong>Gross Profit<\/strong> = PHP 40 million &#8211; PHP 32 million = <strong>PHP 8 million\u00a0<\/strong><\/li>\n<\/ul>\n<p><strong>Summary Schedule\u00a0<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-9429 size-full\" src=\"https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/06\/summary-schedule-percentage-of-completion-1.webp\" alt=\"summary schedule of percentage of completion example\" width=\"986\" height=\"517\" srcset=\"https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/06\/summary-schedule-percentage-of-completion-1.webp 986w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/06\/summary-schedule-percentage-of-completion-1-300x157.webp 300w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/06\/summary-schedule-percentage-of-completion-1-768x403.webp 768w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/06\/summary-schedule-percentage-of-completion-1-801x420.webp 801w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/06\/summary-schedule-percentage-of-completion-1-150x79.webp 150w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/06\/summary-schedule-percentage-of-completion-1-696x365.webp 696w\" sizes=\"auto, (max-width: 986px) 100vw, 986px\" \/><\/p>\n<p><strong>Journal Entries<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-9430 size-full\" src=\"https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/06\/journal-entries-percentage-of-completion-example.webp\" alt=\"example of journal entries percentage of completion\" width=\"646\" height=\"764\" srcset=\"https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/06\/journal-entries-percentage-of-completion-example.webp 646w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/06\/journal-entries-percentage-of-completion-example-254x300.webp 254w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/06\/journal-entries-percentage-of-completion-example-355x420.webp 355w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/06\/journal-entries-percentage-of-completion-example-150x177.webp 150w, https:\/\/scaleocean.com\/ph\/blog\/wp-content\/uploads\/2026\/06\/journal-entries-percentage-of-completion-example-300x355.webp 300w\" sizes=\"auto, (max-width: 646px) 100vw, 646px\" \/><\/p>\n<h2><strong>6. In Conclusion<\/strong><\/h2>\n<p>The Percentage of Completion Method (PCM) helps construction companies recognize revenue and expenses<strong> based on project progress<\/strong>. This method is commonly used for long-term projects because it provides more accurate financial reporting.<\/p>\n<p>However, <strong>not every accounting method is applicable<\/strong> for every construction project. While PCM is ideal for long-term projects with measurable progress, some companies may prefer the Completed Contract Method (CCM) for shorter contracts.<\/p>\n<p><strong>To make the accounting process more efficient<\/strong>, many construction firms use construction accounting platform. These systems help automate invoicing, budgeting, cost tracking, and reporting in one platform.<\/p>\n<p><strong>ScaleOcean Construction Accounting ERP Software<\/strong> can help Philippines construction companies simplify accounting processes, manage budgets, and monitor project progress more effectively.<\/p>\n<p>Businesses can also <a href=\"https:\/\/scaleocean.com\/ph\/request-demo\/\" target=\"_blank\" rel=\"noopener\"><strong>request a free demo<\/strong><\/a> to explore the software\u2019s features and benefits to enhance accounting and budgeting management for construction projects.<\/p>\n<div class=\"faq-content\">\n<h2>FAQ:<\/h2>\n<details>\n<summary>1. What is the PoC method?<\/summary>\n<p>The Percentage of Completion (PoC) method is an accounting approach that recognizes revenue and expenses as a long-term project progresses rather than when it is completed.<\/p>\n<\/details>\n<details>\n<summary>2. What is the formula for the percentage completion method?<\/summary>\n<p>The percentage of completion method formula divides costs incurred to date by total estimated project costs, then multiplies the result by 100% to determine project progress.<\/p>\n<\/details>\n<details>\n<summary>3. What is an example of percentage of completion?<\/summary>\n<p>For example, if a project&#8217;s estimated cost is \u20b1800,000 and \u20b1400,000 has been spent, the project is 50% complete using the cost-to-cost method.<\/p>\n<\/details>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Percentage of Completion Method is one of the well-known payment methods in the construction industry. It is because, this type of payment that is helpful to maintaining long-term financial projects, such as the construction industry. For many Philippines construction companies, this method improves financial reporting, cash flow visibility, and project monitoring. This article will explain [&hellip;]<\/p>\n","protected":false},"author":25,"featured_media":9415,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"powered_cache_disable_cache":false,"footnotes":""},"categories":[115],"tags":[35,68,27],"class_list":["post-9413","post","type-post","status-publish","format-standard","has-post-thumbnail","category-industry","tag-accounting","tag-accounting-software","tag-construction-industry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Percentage of Completion Method Philippines with Examples<\/title>\n<meta name=\"description\" content=\"Discover how the Percentage of Completion Method allocates revenue and expenses throughout long-term construction contracts.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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