In what ways is accounting in construction industry different from that in other industries like manufacturing. Please share your valuable experience?

Construction contract Characterized by long- term period two or three years may be more and large values so profit recognition treated for contract by two methods :

1- completed contract method .

2- percentage of completion method .

Accounting in Construction industry is done as per IAS-11 where revenues and costs are recognized on percentage of work completion basis whereas manufacturing industries follows basic accounting principles for revenue and cost recognition.