Journal of Osh State University. Economics

Problems of determining revenue and costs under a contract in construction and ways to solve them

In this article, we examined the main problems in recognizing income in construction, since everyone knows that construction is a long process. In order to build one object, we need two or more reporting periods, and here we are faced with income accounting problems. The article examined in detail the accounting of income in a construction company, and also studied the costs of a construction company. Having studied the problem of income accounting in a construction company, we recommend the method of income accounting "as soon as it is ready. he most optimal method is the “method of recognition as soon as it is ready”, its essence lies in the fact that during the construction period income is recognized in parts, what percentage of readiness is the percentage of recognized income. At the same time, it should be noted that an invoice for payment and an invoice are issued for the amount of work performed

income; revenue; construction contracts; income recognition; accrual; cash basis; measure of readiness; costs of work; construction in progress