The Over and Under of Contractor Billings

Denise Gillin Uncategorized

Large overbillings or underbillings can be an indication of problems that could jeopardize the stability of a contractor?s bond program. Generally Accepted Accounting Principals (GAAP) state that to be accurate, the best way for a contractor to report earnings is most often on the Percentage of Completion (POC) method of accounting. This method ties together what the contractor actually earned, …