Construction accounting – it’s different. Construction accounting requires a few key practices that set it apart from “regular” accounting protocol. When you understand the key practices and how to address them, you can make the transition to sustainable growth and a more profitable construction company. Here is a breakdown of what to look for.   Revenue Recognition Let’s start with this doozy. Construction contractors must track revenue and costs over extended contract perio

You, your construction company, and how you do business are all different from your fellow contractors. That’s because you (and your...

Figuring out what an employee costs means paying attention to all the price tags accompanying his or her base wage or salary. Those tags...

The Hidden Costs of Labor: Building a Better Labor Burden Most construction contractors underestimate labor burden because they don’t...

Choose a Viable Business Model Whether you choose to be a general contractor, a specialized subcontractor, or a production provider (such...

Understanding What Choosing a CPA Means Yes, you WANT someone who can prepare tax reports for your construction business (and many people...

In our last post concerning Margin vs. Markup , we told you that we would “show you how to convert markup to margin so you can price your...

This vs. That Because you’re in construction, you know the difference between certain things that many others often get confused about....

Just as a good set of binoculars allowed the leaders of pioneer groups to see what they were moving toward, what was on the horizon, and...

Don’t let estimates and spending plans get confused. While they work together, they have different roles to play in managing construction...

You’ve heard the saying “Not my circus, not my monkeys.” And you know what it means – it’s about a problem that is not your...

You probably don’t remember all the times you “got it” as you were growing up. From learning  how to walk to understanding  how to read,...

If you or someone you know has ever had a leg injury that called for the use of crutches to move about, you know how difficult and...

While WIP Report Mistakes can have to do with inaccurate data input, there are numerous higher-level mistakes to avoid. Mistakes that can...

The following information is based strictly on the Percentage of Completion type of WIP Reporting, which we suggest as the best practice...

WIP Reports -- A Powerful Tool in Your Financial Toolkit The question we answered in an article titled Is a WIP Report Worth the Effort?...

So, a construction project has gone out for bid, and you’re interested in getting in on the action, but you’re unsure how to know your...

The first part of this four-part series laid the foundation concerning cash flow . The second part discussed essential components of cash...

The first part of this four-part series laid the foundation concerning cash flow . The second part discussed essential components of cash...

The first of this four-part series concerning cash flow management for construction contractors lays the foundation for this article and...