Four Reasons Contractors Should Stop Mailing Paper Checks
Here are four reasons why construction business owners are stepping away from the mailbox and moving toward safer, easier, cheaper and greener alternatives.
The Total Cost of Absence: It Is More Than You Think
Absent employees cost a company in many ways, including timely project completion. Contractors should consider the indirect costs—or the productivity costs—of employee absenteeism in addition to the direct costs.
Tangible Working Capital and Tangible Equity: What Do These Ratios Mean to Your Business?
Contractors and their CPAs and sureties should discuss and evaluate their tangible working capital, tangible equity and other relevant ratios on a regular basis. These discussions will lead to a clear understanding of their current scorecard, as well as create opportunities to plan for future needs.
Executive Insights: Contractors’ Guide to the Bottom Line
Industry experts weigh in on tips for maintaining a healthy bottom line.
Key Financial Indicators of Project Progress
Contractors often can determine if a project is meeting completion milestones simply through experience and intuition. But a more accurate method entails the analysis of data collected from the accounting department, which should be monthly at a minimum.
Calculating the Overhead Recovery Rate Can Make or Break a Business
Failing to recover the full cost of overhead in estimating or pricing likely will make a business, product or job unprofitable when the final numbers are applied.
Five Proven Ways Construction Subcontractors Can Reduce Surety Bond Costs
The cost of a surety bond is an integral aspect of the cash flow of a construction business, no matter how large or small. Contractors should understand how bond pricing works and its link to personal credit history.
Construction Accounting Risk at Macro and Project Levels
Construction accounting is difficult on both a weekly project basis and a company-wide business reporting level, but proper application of best practices can smooth out processes and make sure the firm is in the best possible position to be paid fairly.
