Cost-value reconciliation (CVR) compares the total costs of a construction project to the total valuation to determine profitability. The CVR forms the basis for statutory accounts and provides management information to identify problems. At each month-end, the contractor's quantity surveyor reconciles costs to the gross certified value, making adjustments for items like external preliminaries, over-measurements, and contractual claims. The adjusted valuation is then reduced by subcontract liabilities, snagging costs, defects costs, and the main contractor's core costs to arrive at the profit generated from the project to date.