Construction Accounting Services
 
 
Overview:

A construction company has many stakeholders requiring different financial reporting.  Every stakeholder requires different information and presented in a unique format.  These stakeholders may include banks, sureties, insurance companies, and potential customers.  Additionally, there is unique in-house reporting with different levels of expertise in understanding reports.  These levels can be the field personnel, middle management, estimating and upper management.  A reporting system that can meet these differing requirements is a must to support growth and maximize profits.

 

Profile:

Focused in the construction industry and serving in accounting/finance and operations with a particular emphasis on job costing systems.  Establish and direct teams in the selection and implementation of enterprise wide reporting and management systems.  Create, implement and analyze operating and capital budgets and a reporting structure to report actual results against the budgets.  Assist in creating environment to increase earnings and revenue growth through marketing and operational strategies.  Identify, perform the analysis, and make recommendations on acquisition targets.  Counsel owner on divesture of company.

Expertise:

·        Identify appropriate enterprise reporting systems that will integrate the general accounting functions with job cost reporting, equipment utilization reporting, equipment cost reporting and estimating with single data entry.
 

·        Financial Statement Design to support in-house reporting (non-GAAP presentation) as well as GAAP statements for external stakeholders.

 

·         Techniques to develop standard rates for estimating and job costing:

o    Equipment Rates

o    Indirect rates for support costs

o    Project management

o    Superintendents

o    General superintendents
 

·         Job cost reporting for

o    Field use

o    Management use
 

·         Techniques to capture and report data that will support:

o    Percentage of Completion Accounting Method

o    Year-end audits

o    Customer billing

o    Backlog reports

o    Separate Business Units as appropriate

o    Analysis of actual verses standard/budget

o    Inclusion of appropriate cost data in estimating

o   Techniques to interface job cost reports and estimating costs

o   Techniques for data collection from the field to feed the reporting requirements and return usable data back to the field

·        Metric Development - With input from company management, identify key measures that will allow upper management to stay apprised of company performance during the interim periods between monthly formal financial statements.