Optimize the Balance Sheet to Find Hidden Equity
Scrutinize accounts more fully to ensure the amounts are recorded properly and maximize the equity of your company.
Consider a Business Line of Credit Instead of Personal Loans for Construction
Small business owners should separate business from personal expenses. Using a business line of credit to pay for personal expenses should be avoided. It can raise a red flag for the IRS to audit business and personal tax returns.
Five Payroll Tips for Construction
Payroll is a critical administrative function that deserves to be in the spotlight. By making the payroll process more efficient and accurate, construction companies can improve compliance, limit risk and set the stage for growth.
Strategies for Surviving Recessions: The Right Time to Fire a Client
When the economy tanks, it’s all about survival, which is a math problem to be solved with numbers. These numbers will dictate when specific business opportunities should be declined and when clients should be fired.
Increase Construction Marketability of Accounting Firms With Certification
Finance employees who work in construction practice groups should become CCIFPs. Here are a few ways that the CCIFP credential can make firms more marketable.
Improving Cost and Scheduling Processes With Smart Technology
Use coordinated technology and software solutions throughout the project lifecycle to mitigate claims, delays and large cost overruns, while coordinating with different sectors and teams.
Three Steps to Maximize Construction Cash Flow
While it may seem basic, many contractors do not have a fundamental cash management strategy in place—or they do not revisit and revise their strategy on a regular basis. Here are a few steps contractors can take to boost cash flow.
Significant Impacts of Revenue Recognition Under New Topic 606
Understanding the new revenue recognition standard is essential to determine how it will impact contractors' financial statements.
