There are two methods of accounting for most construction contractors; Percentage of Completion (POC) and Completed Contract (CCM). Percentage of completion is the method utilized most by contractors. But why? What are the benefits of POC? Let’s find out!
In Percentage of Completion Project Accounting, two terms are frequently used – over-billing and under-billing. Both of these concepts are well known to construction industry accounting professionals, but may not be so well known to others. We want to take this opportunity to di
For many construction contractors, there are impending changes in laws governing both income taxes and financial reporting that come into affect during the current fiscal year or the upcoming one. These are changes that owners and key accounting personnel of construction contractors s