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. WIP is one element of an inventory account.

Work in Progress 52

Work in Progress Accounting Inventory Budgeting 52

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. WIP is one element of an inventory account.

Work in Progress 40

Work in Progress Accounting Inventory Budgeting 40

Contractor Bookkeeping

AUGUST 29, 2014

Outflows for your Construction Company are generally the result of paying labor, material, other direct and indirect costs of goods sold and overhead expenses. Is Cash Flow The Same As Profit? While they might seem similar, profit and cash flow are two entirely different concepts, each with entirely different results.

Cash Flow 48

Cash Flow Management Contract Accounting 48

Contractor Bookkeeping

FEBRUARY 14, 2014

It has always been and will likely always be that: 95 out of 100 contractors will earn less than 3% net profit. 4 out of 100 contractors will earn between 3%-15% net profit. 1 out of 100 contractors will earn in excess of 15% net profit. profit went straight to the bottom line. per hour (See below). 33 hours X $35.53

FAQ 49

FAQ Contractors Accounting Security 49