Recent Articles

Phase Accounting as a Subset of Cost Accounting

Phase accounting is a subset of cost accounting. Cost accounting incorporates many different types of cost inputs to generate informative reports to readers so that they may make good decisions to better the company financial position.

Using QuickBooks in Construction Accounting

06/08/2013

Over the last 17 years I have become a fan of QuickBooks over other accounting software.  Having been involved in construction accounting, I have set up over 9 different construction clients on this software.  Overall it is the easiest and one of [...]

Construction Draw Schedule

01/22/2013

A construction draw schedule is a financial tool used by contractors in identifying percentage of completion points in the project for the bank to advance proceeds to the contractor. The construction draw schedule is instrumental in keeping the [...]

A Model of Excellence

12/04/2012

During my 17 years of doing accounting work, I had the privilege of providing temporary controller duties for a new home contractor.  He built custom homes in an upper middle class area.  The homes ranged between $450,000 to $900,000 depending on [...]

Cost Accounting – Case Study

11/26/2012

“Pull out your checkbook”.  “OK” the client responds.  I continue, “Now write out a check for $200, and leave the ‘Pay to’ spot blank.  The next time a customer for restoration work calls, get their name and address, write [...]