Accounting in construction projects

by a searcher from HEC School of Management, Paris

3 years ago

Has anybody implemented "cost to completion" /"percentage to completion" accounting principles for a construction or building services business? If so, would you be willing to speak about how you go about it and what tools you used?

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professional from University of South Florida

It really comes down to budgeting and tracking, establishing milestones, etc. Happy to talk more about it.

3 years ago | like reply | 0 likes

searcher from Stevens Institute of Technology

It is not that difficult to implement since if you use an AIA (American Institute of Architects) payment requisition, your schedule of values are used as the basis of progress payments. The challenge is the over-billing and under-billings for revenue recognition purposes. Can you elaborate what you are looking for?

3 years ago | like reply | 0 likes

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