Glossary

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AIA Billing

ASC 606

Accounting Equation

Accounts Payable

Accounts Receivable

Accrual Accounting

Assets

Backlog

Balance Sheet

Billings in Excess of Costs

Capitzlize

Cash Accounting

Cash Flow Statement

Certified Payroll

Chart Of Accounts

Completed Contract

Costs in Excess of Billings

Credit

Current Assets

Current Liabilities

Current Ratio

Davis-Bacon

Debit

Deduction

Depreciable Life

Depreciation

Direct Costs

Double-entry Accounting

Equity

Equity Turnover Ratio

Financial Statements

Fixed Assets

General & Administrative Cots (G&A)

General Ledger

Generally Accepted Accounting Principles (GAAP)

Income Statement

Indirect Costs

Job Cost Structure

Job Costing

Leverage

Liabilities

Lien Wavers

Long-term assets

Long-term liabilities

Matching Principle

Mechanic�s Lien

Net D

Overbillings

Overhead

Overhead Allocation

Percentage-of-completion (PCM)

Performance Obligation

Prevailing Wage

Profit Fade

Progress Billing

Quick Ratio

Receivables turnover ratio

Request for change order (RFC)

Request for information (RFI)

Request for proposal (RFP)

Retainage

Revenue Recognition

Schedule Of Values (SOV)

Section 179

Submittal

Surety

Time-and-material billing

Transmittal

Underbillings

Uninstalled Materials

Unit Price Billing

WIP (work-in-progress or work-in-process)

Working Capital

Working Capital Turnover Ration

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