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 ...

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 ...

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 ...

Andrew Bloomenthal has 20+ years of editorial experience as a financial journalist and as a financial services marketing writer. Khadija Khartit is a strategy, investment, and funding expert, and an ...

The addition was struck down as income was taxed before execution of sale deeds. Advances shown as liabilities were correctly offered to tax only when ownership passed to ...