Construction industry accounting is the practice of keeping financial records for businesses involved in the construction industry. It involves a rigorous process of tracking and recording revenue, expenses, and other important financial information to ensure that the company’s financial performance is accurately reflected in their books. It also requires an understanding of how different forms of financing can affect a project’s end cost and profitability. By implementing best practices in construction industry accounting, companies can better assess their cash flow, plan more effectively for future projects, and maintain a healthy financial status.