This is a great reply Peter,

Thanks for taking the time to explain it.

I suppose extra cash ahead of project completion is booked as a liability because its money that could potentially have to be returned if the project is not completed for whatever reason.

My background in accounting is limited but i suppose its just the standard everyone has to follow.

At least now I know how to better interpret Billings in excess of costs and profits on uncompleted contracts and
Billings in excess of costs and profits on uncompleted contracts on PYR's income statement