PSMJ Resources

JULY 10, 2013

Most clients are demanding more work for lower fees, and firms that do not reexamine the terms of their contracts usually find themselves without enough income to break even, let alone make a profit. With government clients, this term can reduce overhead, making your contract price more attractive.

Profitability 43

Profitability Contract Negotiation Debt 43

ProcurementExpress.com

JANUARY 2, 2019

In the construction industry, WIPs cover the raw materials, plus labor and overhead, used as part of a project. Yes, WIPs are considered current assets – meaning, accountants consider inventory assets to be current, as they are expected to turn into cash within the year. Well, not exactly. Slow Work in Progress Figures Just Don’t Work.

Work in Progress 52

Work in Progress Accounting Inventory Budgeting 52

Contractor Bookkeeping

MAY 2, 2013

Four Important Words That Turn High Profit Jobs Into Non-Profit Jobs! Part of the root cause can be traced to a mild case of "Stockholm Syndrome" where contractors feel their cash flow may be held captive by their customers or clients. That Should Be Included. Since It''s Open Anyway. You Get It Wholesale. I Need A Favor.

Change Orders 48

Change Orders Contractors Cash Flow Profitability 48

Contractor Bookkeeping

AUGUST 13, 2014

I Do Like Managed Risks - Which is anything I can control the input and have a greater than breakeven chance of making a profit. Knowledge Leads To Profits And Cash Flow. One Tiny Bit Of Knowledge High Profit Contractors. an hour that means with all of the employment taxes and overhead he costs you roughly $35.64

Contractors 48

Contractors Accounting Profitability CA 48

ProcurementExpress.com

JANUARY 2, 2019

In the construction industry, WIPs cover the raw materials, plus labor and overhead, used as part of a project. Yes, WIPs are considered current assets – meaning, accountants consider inventory assets to be current, as they are expected to turn into cash within the year. Well, not exactly. Slow Work in Progress Figures Just Don’t Work.

Work in Progress 40

Work in Progress Accounting Inventory Budgeting 40

Contractor Bookkeeping

NOVEMBER 18, 2013

There are an infinite number of reasons why most construction companies do not generate a minimum 20% net profit and a six figure after tax income for the owners. I leave you with one thought here - How much in hard dollar profit does your construction crew generate annually? What Gets Measured Gets Managed!

Accidents 48

Accidents Accounting Construction Profitability 48

Contractor Bookkeeping

AUGUST 9, 2012

Yes, I know that sounds a bit harsh please understand it comes from over thirty years of experience in the construction industry both as a contractor, a construction accountant and a profit and growth coach for a few select construction company owners. I have been there, done that, got the T-Shirt, the tattoo and sang a song about it.

Organization 48

Organization Contractors Accounting Profitability 48

Autodesk Construction Cloud

AUGUST 12, 2021

In this practice, each project functions as its own entity with profits and losses. . Knowing the implications of when and how to accrue income and expenses across multi-year projects is an art in itself. . Overhead costs can fluctuate month to month based on workers’ compensation, subcontractors, insurance, training, and more.

Accounting 52

Accounting Software Software FASB 52

Contractor Bookkeeping

MARCH 25, 2014

This includes such information as whether you have overbilled or underbilled the project – change order issues, revisions to cost estimates, estimated final gross profits and anticipated completion dates. These schedules will list important financial issues on your bonded projects.

Cash Flow 52

Cash Flow Accounting Profitability Work in Progress 52