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Tips for Working With Professional Construction Accounting Firms

Strategy Driven

Professionals working with construction businesses have also mastered accrual accounting, which differs from cash accounting in that it records income when the company earns it rather than when it receives payment for the work.

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Do Lawyers Make Better CEOs Than MBAs?

Harvard Business Review

One measure we used was current accruals, where managers accelerate recognition of revenues and delay recognition of expenses. Lawyers were much less aggressive in accrual accounting relative to industry levels.