Tag: Costs of Construction
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Mark-Up with Construction
To grasp the concept of mark-up, the reader must first understand some history associated with mark-up. Next, a modern approach is adopted which requires an understanding of hard and soft costs.
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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.
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Roofer – Business Dynamics
Business dynamics for roofers depend heavily on labor to accomplish their task. They are also highly susceptible to weather conditions and dangerous variables.
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Phase Codes and Cost Codes with QuickBooks and Construction Accounting
Phase codes are functional groups of costs with the residential construction industry.
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Construction Accounting – Balance Sheet Construction in Process Accounts
Construction accounting consists of three major groups of accounts. The first and most understood set are the cost of construction accounts found on the profit and loss statement.
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Cost of Sales – Various Formats
Many business owners misunderstand the use of term ‘Cost of Sales’ by restricting it to just simply ‘Cost of Goods Sold’. Basically, most business entrepreneurs and even accountants don’t realize that it has several different names and presentation formats. But it is essentially costs of sales.