Construction Project Accounting is the process of tracking and managing costs associated with building and infrastructure projects. It involves compiling detailed budgets and expense reports so that project managers can accurately monitor cash flows and keep track of financial commitments. Construction Project Accounting also helps ensure compliance with local, state, and federal laws related to building projects, as well as regulations imposed by professional organizations. By taking a holistic view of the financial landscape of their projects, construction firms can ensure their projects remain on time and within budget.