Why Contractors Fail – Knowing your Costs
As discussed in my last two posts, the past few years have been a nightmare for the construction industry. Companies are going out of business left & right; and competition for what little work...
View ArticleRevenue Recognition – The New Reality for Construction Companies
In June 2010, the Financial Accounting Standards Board (FASB) released an exposure draft on a new revenue recognition standard that would change the way all businesses, not just contractors recognize...
View ArticleRevenue Recognition – The New Reality for Construction Companies Part II
Last month I wrote about the revised exposure draft relating to revenue recognition that was issued in November 2011. This month I want to expand on that discussion and focus in on three commonly...
View ArticleCyber Security Liability – Is Your Construction Company at Financial Risk?
GBQ Partners and Overmyer Hall Associates will be holding a seminar on August 1, 2012 from 8:00 a.m. to 10:00 a.m. at GBQ Partners. Michael Dickson, CPA, CITP, CISA, CISM Director, Business Technology...
View ArticleLifelong Learning – The Key to Being the Best Construction Financial...
Summer is the learning season for CPA’s and CCIFP’s (Certified Construction Industry Financial Professional). CPA’s are required to obtain 40 hours and CCIFP’s are required to obtain 24 hours of...
View ArticleCCIFP – The Financial Construction Designation
Last month, I discussed the summer as being the learning season for CPA’s and CCIFP’s (Certified Construction Industry Financial Professional). Today I want to explain more about the CCIFP designation...
View ArticleTop 10 Reasons Why Contractors are Underbilled on Their Projects
This isn’t a David Letterman “Top 10” list and this is no laughing matter; this is more important. Underbillings on a construction company’s balance sheet is not a good thing. Underbillings to a...
View ArticleLife Long Learning – The Key to being the Best Construction Financial...
As I wrote back in the summer, CPA’s are required to obtain 40 hours and CCIFP’s (Certified Construction Industry Financial Professional) are required to obtain 24 hours of continuing education classes...
View ArticleOpen & Closed Job Schedules – Underutilized Tools in Most Construction Companies
As hard as it is to believe, the open and closed job schedules are probably two of the most underutilized tools in most construction companies. Of course the surety’s, banks and accounting firms like...
View ArticleConstruction Trends – How long will the Multi-Family Construction Boom Last?
Check out this article relating to trends relating to the apartment building boom. It is important for contractors to understand business trends and how it affects the future of their company. Change...
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