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Construction Accounts Management

General, principles of accounting, accounting process, construction contract revenue recognition, construction contract status report, limitations of accounting, balance sheet, profit and loss account, working capital, ratio analysis, funds flow statement

10.1 GENERAL

As has been mentioned at several places, construction projects involve consumption of resources in terms of manpower, equipment, materials and, of course, time. Now, money could serve as a common denominator to reduce all these components to a level-playing field and compare costs of projects, profits (or loss) to the contractor, and so on. In the case of construction projects, which often take several years to complete, issues related to ...

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