The dynamics of projects in the contemporary times have made it highly imperative to seek the engagement of experts in the area of accounting for projects. A project could be one-off short-term or long-term, spanning years of accumulation of costs in work-in-progress (W.I.P) and ultimately culminating in a turnkey.
Depending on the nature of the project, some projects like civil, mechanical and/or electrical works may require heavy investments in materials and equipments, whereas some are more or less of service nature.

As mentioned earlier, the striking issue to an accountant is the fact that the accounting basis to be applied in ascertaining costs and determining profits and classification of assets and liabilities are dynamically different in all circumstances. Our firm has handled different kinds of project accounting, on consultancy basis, for some of its clients.