Learn the differences between the percentage of completion and completed contract methods. Discover how each impacts revenue ...

Every business is required to choose an accounting method to report income and expenses. Two options that cater to businesses working on long-term projects, such as construction and engineering firms, ...

In this week’s Tax Geek Tuesday, we take a look at a case out of the Tax Court that should have tax advisors scrambling to see if an opportunity exists for their home-builder clients to defer ...

Certain construction contractors may be eligible to use the cash or completed-contract method of accounting for regular income tax. However, these taxpayers may also be liable for alternative minimum ...

The percent of revenue or completion method is a business accounting practice that allows a company to record costs and profits as the company works to complete a given contract. This system works ...