Remodeling: Percent-Complete Accounting http://www.remodeling.hw.net/management/finances/percent-complete-accounting/percent-complete-accounting.aspx?view=rss&id=Query_tcm1765811<url /><link /></image><description>The Information Source for the Home Building Industry</description><language>en-us</language><pubDate /><webMaster /><item><title>Percentage-of-Completion Accounting: What's It All About?http://www.remodeling.hw.net/accounting/percentage-of-completion-accounting-whats-it-all-about.aspx?rssLink=Gilson%3a+Percentage+of+Completion+AccountingPOC accounting methods provide more accurate results before the final numbers are in, especially for remodeling projects that stretch out over time. How to use this useful method, by QuickBooks expert Diane Gilson.Percent-Complete Accountinghttp://www.remodeling.hw.net/accounting/percent-complete-accounting.aspx?rssLink=Percent-Complete+AccountingOf the four methods used to recognize income, costs, and profits on construction contracts, cash and accrual are most familiar. The best accounting method for remodeling projects is percentage of completion because it recognizes revenue, cost, and gross profit throughout the life of each contract based on a periodic measurement of progress.