Effective CIP Accounting for Modern Construction Projects
Therefore, the construction in progress is a non-current asset account that keeps a record of all the costs incurred until completion. Construction auditors must adhere to the Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) guidelines. The basics of accounting for construction companies also https://www.instagram.com/bookstime_inc include revenue recognition and cost allocation. CIP…