With so many moving parts, construction is an industry that changes from one project to the next – from the location and size of the job, to the materials and tradespeople involved.
As a result, specialized accounting practices must be put in place. It’s critical to establish systems that take the unique aspects of this sector’s operations into consideration – from setting up job costs and time tracking, payment deadlines in accordance with the new Construction Act, to using the percentage of completion method to calculate revenue.
You need accounting professionals who understand this challenging business environment and who have the insight and specialized expertise to help you address these issues while remaining compliant with changing legislative and regulatory requirements.
We can help businesses in the construction industry with:
- Understanding the accounting and tax treatment of holdbacks
- Tax-efficient planning
- The development of various assurance financial statements
- The preparation of audited financial statements
- The development of financial forecasts and budgets
- The preparation of net worth statements
- Observing tax compliance requirements
- Bookkeeping and review of controls
- Reliable quarterly financial reporting
- Strategies for growth, including financing, mergers and acquisitions
- Financial consulting to help increase revenue performance
To learn more about how Fazzari + Partners accounting professionals can help you meet your business objectives, contact firstname.lastname@example.org today.