6 Tips for Boosting Profitability

It’s often said that construction is a risky business, and that’s not just in reference to job safety. Construction is also highly risky from a financial perspective, with its thin profit margins, unpredictable site conditions, volatile costs, change orders and the use of multiple subcontractors. In addition, many construction projects are performed ...

Investigating the Cash Conversion Cycle

Continuous improvement and flow of materials is key in manufacturing; however, the flow of information and supporting functions is just as important for the most efficient cash conversion cycle (also known as the time from the initial cash outlay to the collection of cash from customers). While the focus often shifts to the flow of materials, analyzing ...

Volunteer for a Not-for-Profit? Big Changes Coming Your Way!

Many of us are involved with not-for-profits in some capacity, either because you work for a not-for-profit or volunteer for one in a leadership role. The Financial Accounting Standards Board (FASB) is on the verge of proposing significant changes in the way not-for-profit financial statements are presented. The goal of the FASB project is to improve ...

Venturing into a new state?

As your construction company grows, you may be presented with opportunities that are outside your normal state of operations. While it may be a good idea to bid on an out-of-state project, you’ll want to consider a number of different factors before making the final decision to pursue an out-of-state venture. Please continue reading as Brandon Cook, ...

Standard Costs Explained

Pop Quiz: Your electricity bill for your home arrives stating that you owe the power company $150 for the past month’s usage. Is this a reasonable bill? Clearly, the answer is – it depends. You might compare this bill to a previous bill to determine if it is reasonable, or you might just rely on your intuition about whether or not it “feels” ...

Cash versus Accrual Method of Accounting – How potential legislation would affect Professional Service companies.

Congress has considered tax reform proposals that would require many professional service firms to move from the cash method to the accrual method of accounting for income tax purposes. Such a change would impose new financial burdens on professional service firms and their partners/shareholders – including a large, unexpected tax liability. Most ...

Is your nonprofit ready to pass the baton?

Baby boomer nonprofit leaders continue to retire in vast numbers nationwide. Does your organization have key people who are nearing retirement? If so, is there a concrete plan to replace them? A succession plan can be the difference between a nonprofit carrying on its mission without interruption and its operations grinding to a halt. Choosing a strategy Three ...

How to protect your tax-exempt status

What would happen if your nonprofit lost its federal tax-exempt status? The thought might send shivers down your spine, and it should. Here are reminders about some of the actions that are required — or should be avoided — to maintain your 501(c)(3) status. A titanic loss If your 501(c)(3) designation is revoked, your nonprofit will no longer be ...

Is Your Not for Profit Reporting It’s Full Value Proposition?

By Jeff Curiel, CPA, Manager, Audit & Other Assurance Services Group and Amanda Meko, CPA, Partner, Team Leader of the Not-for-Profit Services Group “How do we create value?” This question is often asked when analyzing an Organization’s impact. As CPAs, it is oftentimes too easy to focus solely on numbers, without considering other factors ...

Contractors Have Options When it Comes to Financing

By Alicia Rader, CPA, Manager, Audit and Other Assurance Services and Member of the Construction Services Group and Tim Ayler, CPA, Partner, Audit and Other Assurance Services and Team Leader of the Construction Services Group Relying on credit to cover lean times during projects or payment delays should not be a habit. But, for many construction ...