Construction Accounting 101: A Complete Guide Blog
This proactive approach helps in managing client expectations and ensuring the project stays on budget. The contract should clearly define the scope of work, payment terms, and other key conditions. A well-drafted contract minimizes disputes and ensures that all parties have a clear understanding of their responsibilities. Are you running a construction business but feeling […]
What is Construction In Progress Accounting: Everything You Need To Know
Publicly listed construction companies have financial reporting obligations that require transparent communication of performance. This includes reflecting cip accounting data accurately on mandatory financial statements. Construction-in-progress or CIP accounting is a technique accountants use to manage costs linked to fixed-asset constructions. This technique works because construction projects are way more complex than other projects. Many […]