Businesses must account for their costs and earnings each year when it comes tax time. This is usually a straightforward process, but it can be a bit more complicated if your business is one that ...

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 ...

After establishing new standards for revenue recognition in accounting for construction companies, the bottom line is this: The new standards and processes they engender may yield results similar to ...