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Overall Construction Spending Dropped Just 0.6 Percent in November
With residential construction hit hardest, commercial builders working on multimillion-dollar projects have seen less disruption.
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Answering the call, Alternative solution for the Housing Crisis…

The Contractor's Business Digest

To answer President-elect Obama’s call for ideas to help resolve the economic crisis, I thought I would offer an alternative approach to ... Read More

Reducing Construction Site Theft by Employees and Sub Contractors

Construction Security

How much job site theft is committed by your employees or the employees of your sub contractors? There’s no conclusive evidence but ... Read More

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The Value of Growing Up in a Construction Family

Interview with Robin Wilson, a general contractor with Meridian Builders and Developers

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Business Glossary

Definitions for: construction-in-progress

Dictionary of Accounting Terms

construction-in-progress

inventory method used by construction companies. The inventory account reflects construction costs incurred using the completed contract method and the percentage-of-completion method. Under either method, when construction costs occur, the entry is to debit construction-in-progress and credit progress billings. Additionally, under the percentage of completion method, profit is recognized gradually each period when work is performed, requiring an additional entry to record the profit. The entry is to debit construction-in-progress and credit profit. Under either method, construction-in-progress is eliminated in the final year when the contract is completed. The entry is to debitprogress billings and credit construction-in-progress and profit. Under the percentage method, the profit is for the last year only. Under the completed method, the profit is the cumulative profit for all the years.

Industry Associations

Industry Associations
Residential Construction Workers' Association
Represents the interests of residential construction workers. Aims to improve the lives of all workers employed in residential construction. Provides job and social service referrals. Informs workers of their rights ...

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