Remove Accounting Remove Finance Remove Industrial Remove Profitability
article thumbnail

The Secret Sauce to Protecting Construction Profits  

Autodesk Construction Cloud

While incredibly rewarding, the construction industry is a challenging sector to work in for cost-focused business and project executives. By taking proactive steps and adopting the right tools, you can mitigate and safeguard your firm’s profits. Decisions made using “bad data” are estimated to cost the industry $88.69

article thumbnail

Monitoring Your Financial Position to Succeed in the Construction Industry

Viewpoint Construction Technology

While many businesspeople swear by hard work and technical proficiency as the key ingredients of success, within the construction industry, there is a broader understanding that success is built on more than just structural expertise and hard work. Sometimes this erodes profit, but in some scenarios, it can mean losses or even worse.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The upside of job costing: More accurate estimates means more money in the bank

Lets Build

Whatever your reason for getting into the construction business, a love for job costing and puzzling out profitability likely wasn’t a contributing factor. In a recent study of self-identified business owners, accountants, bookkeepers, estimators, and finance managers within the construction industry, 1.

article thumbnail

Key Financial & Safety Metrics for Subcontractor Qualification 

Autodesk Construction Cloud

For one thing, circumstances can change quickly in today’s uncertain construction industry. Formula: (Cash and Cash Equivalents + Marketable Securities + Accounts Receivables) / Current Liabilities . Accounts Receivable Turnover . A higher ratio indicates a stronger ability to collect on Accounts Receivable. .

Safety 94
article thumbnail

Why Viewpoint’s Collaborate 2018 Conference is a Must for Construction Executives

Viewpoint Construction Technology

Attend sessions taught by some of construction’s best in business valuation, succession planning, leadership and more to help you run a solid, profitable business where business thrives and the very best construction professionals want to work. There will also be plenty of opportunities to make new connections and contacts in the industry.

article thumbnail

Construction Company Recovery After A Financial Setback

Contractor Bookkeeping

Your finances are negatively affected, and it's up to you to lead the recovery. Almost all business sectors have experienced declining profits, liquidity that is drying out, and even bankruptcy. Whether those hardships are pandemic-related or linked to other urgent situations, the effect is still the same.

article thumbnail

C.P.A. Accounting Vs. P.M.P. Construction Accounting

Contractor Bookkeeping

Project Management Construction Accounting Professionals (PMP) work above the line focused on generating positive outcomes and results for contractors: Increase Sales. Allowing a construction accounting firm to preparer your annual tax return is foolish because there is nobody to review the work. Reduces Expenses. Increase Net Income.