What is construction accounting?

Answer Construction accounting is the specialized method of bookkeeping used in the construction industry. The IRS says its purpose, like all accounting methods, is to make the taxpayer's income and busin... Read More »

Top Q&A For: What is construction accounting

Overview of Accounting in Construction?

Construction businesses are like any type of business in the regard that accounting is used to maintain records. Construction accounting follows all basic accounting procedures but also has additio... Read More »

What does construction in progress mean in accounting terms?

Accounting has a specific method of categorizing assets, so when an asset is in the process of assembly the expenses associated with the asset are categorized as "construction in progress."Referenc... Read More »

How can the choice of construction materials and construction techniques influence sustainability?

In a huge variety of ways. But since you didn't mention what you are building, I can't tell specifically. Here's an example though: If you're building let's say a garage with a concrete foundation,... Read More »

Can Financial Accounting Decisons Be Made Without Management Accounting?

Financial and management accounting coexist well in many firms. Both types of accounting can be integrated with the advent of the enterprise resource planning software (ERP), which connects both sy... Read More »