Construction accounting

Are you asking about what topics are good to attract the client during client discussion? Or are you asking about reference material for the construction industry?

Contact your local Buiders Association and ask them for a copy of the last 3 association magazines and see what the article topics have been.

Contact the AICPA, they just updated the industry guides for the construction industry.

If your client is using Quickbooks, you will need to understand estimating through invoicing using their method of accounting and be well versed in job costing and payroll job costing using Quickbooks.

Bill - Is this client a general contractor, or a specialty contractor? If it is a general contractor, I would start by identifying the clients commitment cost per phase to its actual cost. Then determine which phases are over cost, and why. This may indicate a possible loss on change orders. A project I have started for the company I work for is going back to 2008, before the bottom dropped out, and evaluating the estimated margin at the beginning of the project to how the project finished.
I am doing this per project manager also.

What is company's A/P turnover?

How quick is it collecting its A/R?

What are the overbillings versus the underbillings?

What is the margin variance? This goes back to the project I am doing.

Are there any schedule variances, what caused them?

How are the change orders impacting the project cost? Change orders can be great ways to increase revenue, if done appropriately.

These are a few suggestions that I have came across, and some I use. I hope this helps. Valerie mentioned the AICPA. I would also add Sage CRE, Dexter-Chaney, and Sullivan & Associates. I have found these three to have great resources.

Hi

when I think of contractors - I think tax risk - percentage of completion accounting method - must master as it is needed for tax - must understand interplay of percentage of completion and alt min tax - must understand long term accounting contracts and look back provisions. Many contractors fail to recognize the importance of these tax implications of accounting contracts.