Explore some of the more common sets of financial ratios and how you can use them to measure the performance of your business within the construction industry.
With the new revenue recognition standards for construction contracts, what exactly happened to the percentage-of-completion method we’ve come to know and love?
Construction businesses don’t usually have a choice about paying costs, but contractors may have the choice whether to treat them as an expense on their financials. It’s called capitalization, and it’s not just for grammarians.
Diving into the facts about one of construction’s most debated sets of laws can help take the doubt out of "Davis" and bring home the bacon for your business.
There’s a new revenue standard in town. Taking effect is Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers, which introduces the new “five-step model.” See what that means for you.
While construction accounting and bookkeeping draws on many basic accounting principles, it has several important and distinct features. Dive in with an overview of the fundamental differences and examples, along with bonus learning resources.
In construction, we sometimes throw around a lot of words, acronyms and alphabet soup. Find out what we've been talking about the whole time as you jump around on our Definitive Construction Accounting Glossary, and zoom in on related articles to learn even more.
You may have heard of work-in-progress reports or been asked to help provide information for them. So what's the big deal with WIP, and why does the field need to get involved? Plus, see a sample WIP report!
You’ll sometimes hear that QuickBooks can’t do job costing. And that’s not quite true. QuickBooks Online offers a few ways to pull project reporting that can be similar to a job costing system.