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, ...

Contract jobs can vary considerably in length. The day of completion for a contract job oftentimes requires extension for a variety of reasons. The completed contract method allows you to delay ...

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 ...

This is a preview. Log in through your library . With nearly 400,000 members, the ABA provides law school accreditation, continuing legal education, information about the law, programs to assist ...

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 ...

The IRS recently announced its disagreement with the Ninth Circuit’s ruling that, with respect to planned communities, the 95% test under the completed contract method of accounting applies on a ...