Posts by Kent Beachy, CPA, CIT, CCIFP, Director of Construction Services:
Growth is the goal for many companies — whether you get that growth from adding another location, forming an alliance, adding services, diversifying into other areas or merging with/acquiring another business. But not all growth is good. So, it’s critical that you properly manage it. Smart Business recently talked with Kent Beachy about monitoring and managing your business’s growth.
For example, when growth is on the horizon, construction companies will go out and take on more work than they can handle. They have to pay their labor weekly, but they may not get paid for 60 or 90 days. A big part of growth is being able to finance it; you must have the right financing sources, such as built-up profits and/or a line of credit.
To learn more about how to set up the right systems to monitor your financial accounting and cash flow in times of growth, read the full article on Smart Business’ website.
Want to read more articles about business growth, check these out:
Usually when you hear the words “accounting method,” you think of generally accepted accounting principles (GAAP). However, you should not overlook the impact that accounting methods have in the tax world, especially for construction contractors. Read the rest of this entry “
The Economic Recovery has hit the Construction Industry.
While every industry has suffered during the Great Recession, the construction trade has been particularly hard hit. As tight government budgets were hampering major infrastructure projects, the foreclosure crisis was impacting new home construction – talk about a double whammy!
But, there’s good news for the construction industry: home prices and construction are beginning to turn around! Read the rest of this entry “
The Sarbanes-Oxley Act, (or SOX), set new or enhanced federal accounting standards for public companies as a reaction to a number of corporate and accounting scandals that cost investors billions of dollars. Passed into law in 2002, SOX appears to be having a trickle-down effect on construction companies and their publicly-held company clients. Read the rest of this entry “