Recent Articles

Trades in Construction

There are three licensed trades in construction. Plumbing, electrical and HVAC all require a special type of accounting in order to track their costs against the estimates made by the contractor.

Roofer – Business Dynamics

06/01/2015

Within the residential construction industry is a subset referred to as ‘Trades’.  Within this group exists one particular trade that has its own set of business dynamics.  Roofers depend heavily on labor to accomplish their task.  They are [...]

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 [...]

Small Business Model Series Entry #2 – Narrowing the Idea

01/14/2013

This entry is part of a series of entries exemplifying the steps an entrepreneur takes from starting a business to selling the operation. It is a step by step process addressing the multitude of business concepts every small business owner must face. This is a 6 year example from Day 1 to the day the owner receives a check for selling his business. Read this series as if it you were experiencing all of the trials, tribulations and joy of owning and operating a business. [...]

Use Phase Accounting in Construction – Part II (Trades)

12/21/2012

The most effective form of a financial feedback loop in residential construction is phase accounting.  Phase accounting is a subset of cost accounting and generates accurate information in the world of new home and residential additions for small [...]