Most Trusted Business Advisor
Like having a CFO on staff at a fraction of the cost!
The CFO function is crucial to every construction company.
We want to share our thoughts and insights and teach you a few things. We have deep expertise in best practices and financial metrics. We promise to have a significant positive impact on your goals.
This will require frank discussions about what you need to change. You must be patient. We do not pretend to know everything or have a magic crystal ball.
Deliverables include:
- Unlimited telephone and email consultations to discuss your financial accounting and tax matters.
- Quarterly Zoom meeting, telephone call, or in-person meeting if local, to HELP YOU MAKE MORE MONEY!
- Financial Statement Preparation for Surety Bonds: Annual Review and Mid-Year Compilation
- Federal & State Tax Return Preparation: Business & Individual
Things we discuss throughout the year:
- Strategic Plan & Budget
- Estimating & Bidding
- Balance Sheet financial position
- Where all the Cash went
- P&L Budget to Actual
- Owner Salary & Business Net Income
- Proactive tax planning at mid-year & year-end. No April 15th surprises.
- Maximizing bonding capacity
- Contracts in Progress (WIP) Schedule
- Project Cash Flow Analysis
- KPIs & Benchmarking
- Any other financial management subject as requested
Why are we experts in the Construction Industry? Because we know:
Cash is King. That it really is all about cash.
- You should be reviewing Cash Flow from two perspectives every quarter: for the entire company (Statement of Cash Flows) and by Job & PM (Project Cash Flow Analysis).
- A properly crafted Schedule of Values is critical to creating Overbilling and positive Project Cash Flow.
- Underbilling is VERY BAD. A sign of poor project management, poor change order management, profit fade, or worse.
It’s all about standardized systems and practices.
- How to improve your company’s Billing and Collection processes
- You should be preparing a Contracts in Progress (WIP) Schedule every quarter.
- What an AIA G-702 is. And the importance of pay-when-paid, retainage reduction, and stored material clauses.
- Warning signs of trouble: owner working for no pay, company not making a profit, running things by the seat of your pants with no or late financial management info.
How to Talk the Talk.
- Job Costing is very different for a GC that Subs everything, a Labor-intensive Electrical Sub, and an Equipment-intensive Sitework Sub.
- The difference between a Bonding Agent and Surety Underwriter. And what’s required to obtain and increase bonding capacity.
- The difference between Prevailing Wages and Certified Payroll.
- The latest construction accounting Revenue Recognition and Lease rules, the New Tax Act, and have a copy of IRS Construction Industry Audit Technique Guide.