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Agapiou, A, Flanagan, R, Norman, G and Notman, D (1998) The changing role of builders' merchants in the construction supply-chain. Construction Management and Economics, 16(03), 351-61.

Atkinson, A R (1998) Human error in the management of building projects. Construction Management and Economics, 16(03), 339-49.

Bordoli, D W and Baldwin, A N (1998) A methodology for assessing construction project delays. Construction Management and Economics, 16(03), 327-37.

Egbu, C O, Young, B A and Torrance, V B (1998) Planning and control methods, tools and techniques used by refurbishment management. Construction Management and Economics, 16(03), 315-25.

Jensen, D A and Craig, J W (1998) Testing the validity of liquidated damages clauses: measuring the application preference and consistency of the intent test as applied by the United States court system. Construction Management and Economics, 16(03), 269-81.

Jensen, D A and Craig, J W (1998) The impact of TAMRA '88 on US construction accounting practices. Construction Management and Economics, 16(03), 303-13.

  • Type: Journal Article
  • Keywords: accounting; accrual basis accounting; long-term construction; TAMRA 88; Technical and Miscellaneous Revenue Act of 1988
  • ISBN/ISSN: 0144-6193
  • URL: https://doi.org/10.1080/014461998372330
  • Abstract:

    This article addresses the accounting process for a long term construction contract and the effect of recent income tax reform on revenue recognition for income tax liability purposes. The Tax Reform Act of 1986 (TRA ’86) introduced several significant changes in tax accounting for long term construction projects. Further tax legislation reform was promulgated via the Technical and Miscellaneous Revenue Act of 1988 (TAMRA ’88). Prior to the promulgation of these income tax reform acts, a US contractor could use the percentage-completion method for reporting income to creditors and investors, while using the completed-contract method for income tax recognition purposes. After TRA ’86 and ending with TAMRA ’88 tax legislation, the contractor is now required by law to utilize a 90/10 split for an income recognition schedule if a contract is longer than two years and the contractor has sales of more than $10 million per year. An intent of this article is to create an awareness of these rules and resulting practices, so that international readers may gain a better understanding of any global implications.

Raftery, J (1998) From Ptolemy to Heisenberg: quantitive models and reality. Construction Management and Economics, 16(03), 295-302.

Vidogah, W and Ndekugri, I E (1998) Improving the management of claims on construction contracts: consultants' perspective. Construction Management and Economics, 16(03), 363-72.

Wang, C-H, Wang, M-W and Huang, Y-C (1998) Hierarchical indices for measuring the effectiveness of construction automation implementation. Construction Management and Economics, 16(03), 257-67.

Yogeswaran, K, Kumaraswamy, M M and Miller, D R A (1998) Claims for extension of time in civil engineering projects. Construction Management and Economics, 16(03), 283-93.