Abstract
In today’s scenario, it’s uncertain to set up a construction firm. Many construction enterprises quit their business operations every year. Due to the specific characteristics of the construction business, running a successful construction firm demands a professional set of financial management abilities and robust accounting system. The construction industry, in contrast to other sectors, faces a number of obstacles, such as: (1) an ongoing demand to create unique projects; (2) the need to construct projects at various sites; (3) the handling of retention and advance payments; and (4) a reliance on subcontractors for the successful completion of operations. This study attempts to know the significance of robust financial management and accounting systems in the construction industry.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have