Author: David J Hoare MSA
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Job Costing
Job costing is one of the forms of cost accounting. It is used in conjunction with financial accounting to alert management about profitability with production.
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QuickBooks Online – An Accountant’s Review: ‘D+’
The first time I used QuickBooks, it was the DOS version. That was over 20 years ago. Today, there are a multitude of versions for QuickBooks. QuickBooks Online doesn’t measure up to Intuit’s Enterprise versions. It isn’t even close.
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Billings in Excess
‘Billings in excess’ is a construction industry financial term referring to the dollar value of charges to customers in excess of the costs and profits earned.
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Hard and Soft Costs With Construction
A contractor must understand the difference between hard and soft costs in order to properly markup assignable costs to determine the final sales price.
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Restoration Contractors – Business Dynamics
Restoration contractors face a different set of business dynamics than the traditional new home builder or remodeler. Unlike the builder and remodeler, restoration companies deal with a third party in their contract negotiations and performance, the insurance underwriter.
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Setting Up Item Codes for Contractors
A common problem for contractors is setting up item codes with accounting software. Most accountants fail to fully understand the concepts behind item codes.
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Job Costing Reports – Introduction (Part 1)
Job costing reports are management tools used to evaluate project or production performance against a known or estimated standard.
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Contractor’s Audit Guide – Introduction to IRS Audits
In 2009, the Internal Revenue Service issued the Construction Industry Audit Technique Guide (ATG) for use by IRS agents and for contractors.
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Business Principles – A Pyramid of Levels
There is no universal finite set of business principles. In the aggregate, there are over several hundred of them.
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Contractor’s Chart of Accounts – Completed Contract or Percentage of Completion Method
The contractor’s chart of accounts is significantly different than the traditional chart of accounts. The layout is more balance sheet driven.