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A method of construction accounting that recognizes income and expenses on a project as they occur and shows differences in the contractor’s billings as Underbillings and Overbillings. This method requires that a contractor make reliable estimates of a project’s total costs as well as ongoing costs. Percentage of Completion is the most accurate method of construction accounting and is the preferred method by surety bond companies and other lenders.

Vice President at Axcess Surety
Vice President of Axcess Surety. Surety Bond and financial expert dedicated to helping businesses and individuals understand and obtain surety credit.
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