Construction workers tend to work based on contractors they make with the owners of property. Traditionally these contractors could choose from a variety of accounting procedures to account for the ...

Construction businesses can use special accounting methods to recognize income. By selecting one of these methods, you can figure your taxes based on your progress in completing a construction ...

The Financial Accounting Standards Board released a staff educational paper Tuesday to answer questions about how to apply its revenue recognition standard to presentation and disclosures to ...

In a prior article, I wrote about the appeal of counting the Federal Government as a customer, because of the size of the government’s budget, as well as its creditworthiness. In that article, I ...

The Financial Accounting Standards Board has decided to tweak some of its standards related to contract assets and liabilities for construction contractors in response to recommendations from its ...

Whether you’re a local contractor with a small crew or a general contractor on a large-scale commercial build team, one thing all contractors have in common is the drive to pick up a hammer instead of ...

Construction contracts are essential in the construction industry, governing the relationships and responsibilities of all parties involved in a project. Whether you’re a contractor, subcontractor, or ...

It's important for parties entering into any significant economic transaction to have written contracts. This is especially true for construction projects which are, by their nature, complicated. A ...