Most businesses record sales at the point of a product or service's delivery, but construction contractors dealing with long-term construction projects may recognize portions of a project's revenue ...

Under the rules proposed by the CAS Board within the OMB Office of Federal Procurement Policy, the U.S. government will now rely on Generally Accepted Accounting Principles, or GAAP, to protect its ...

The White House is proposing to eliminate dozens of accounting requirements for federal contractors it considers "unnecessary ...

CrewCost has announced the launch of the company and its accounting software product. Built by the founder of Esticom, a cloud-based takeoff and estimating application acquired by Procore, CrewCost’s ...

Construction companies and contractors can choose among several accrual accounting methods specialized for their industry. They can also use cash accounting. If they choose accrual accounting, they ...

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 ...

CONSTRUCTION OFFERS A DIVERSE MARKET TO CPAs. Major contractors handle federal government projects (such as dams and military buildings) and other heavy construction work including refineries, power ...

There are two primary inventory accounting systems: periodic and perpetual. With a perpetual system, sales are recorded as they occur and the inventory balance is updated continuously. Have you ...

“Sage is really at the foundation of our accounting operation – everything builds off of it,” says Sylvia Lamas, controller with general contractor Tricorp Group. The Sacramento, Calif., constructor ...