Expert advice in minutes not days. Register it's free and ask your first question now.
ReachBack is our free community help desk for construction professionals. A library of high-quality questions from real users with answers delivered and curated by a panel of industry experts.

4,240 questions

4,428 answers

540 comments

34,653 users

Register its Free

Download here

NEC ECC: accounting principles

+1 vote
67 views
Our accounts are being audited and a year-end accrual is being examined. The accrual was calculated including forward forecasts in line with ECC option C. How does this agree with Accounting principles?
asked May 19 in NEC3 Main options by Shaun   1
   

1 Answer

+1 vote
There shouldn't be any problems with accounting principles it is a matter for the accountants to understand and get comfortable with the operation of this type of contract which provides for this type of payment.
answered Jun 5 by Rob Horne (9,030 points)