Revenues on long-term construction contracts are exceptions to the general rule that revenues should be recorded once earned, meaning that these revenues can be recorded throughout the time periods of ...

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 ...

Accounting methods refer to the basic rules and guidelines under which businesses keep their financial records and prepare their financial reports. There are two main accounting methods used for ...

David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, corporate and individual tax planning and preparation, and investing and retirement planning.

Accrual accounting is one of the primary accounting methods and is based on the matching principle, which dictates that revenues and their associated expenses be recorded in the same accounting period ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...