StatsBlog
StatsBlog provides a forum to give you a specific point of view on contract administration issues in the AEC and design industry. We share news and features of FIVE and how it influences contract administration.
Understanding Accounting vs. Contract Administration
Accounting is an accrual method of tracking financial transactions, reflective of the last observation plus, the current observation, that must equal observations to date. In contract administration the observation is, of what is observed to date, minus the observation of the past, to determine the current change in observation.