Unlike many other industries, accounting for the construction companies does not just include a regular series of debits and credits. Instead, a construction accountant uses a system that is designed to match income and expenses to the varying length and size of construction contracts.
Like a contractor accountant, a construction accountant is trained to serve its industry’s specific accounting requirements. This type of accounting includes mostly the categories of: contract revenue, contract costs, trade receivables, gross amount due to/from customers, advances from customers and retention money.
