LUTZ CONSTRUCTION ACCOUNTING BLOG
5.18.22 | QuickBooks Desktop Demo for the Construction Industry | Recording
Lutz experts will show you how QuickBooks reports can help your company manage costs, identify underbillings, and track job profitability…
Construction Project Job Costing
Job costing is the process of tracking expenses related to a construction project and provides management information related to the costs…
Book vs. Tax Depreciation Methods in the Construction Industry
It is important to understand the key book/tax depreciation differences and their implications on a company’s financial statements…
Tax Methods of Accounting for Construction Contractors
We discuss the requirements of the Percentage of Completion Method (PCM), the exceptions, and the advantages/disadvantages of each method…
2020 + A YEAR OF CHANGE AND UNCERTAINTY FOR CONTRACTORS
For many obvious reasons, 2020 has been one for the history books. The current, ongoing, and future impact of the year’s events are at the forefront of everyday conversation, from the global pandemic…
WIP Schedule 101
All businesses need accurate financial data to help understand how it is performing and, more importantly, to assist in planning for the future. The construction industry is no different, and one of the most important inputs to financial…
Construction Month-End Close Checklist
Many say humans are “creatures of habit” and prefer routines, especially accountants. Those habits and routines may exist in our personal lives, professional lives, or both. As a business owner, establishing sound habits and routines…
Direct vs. Indirect Costs in the Construction Industry
A new project manager at your construction company is consistently seeing margins deteriorate at the end of their construction projects. The key question when confronting this situation is to determine if project…
10.3.2018 | Financial Statements in the Construction Industry | Recording
This presentation, led by Ryan Cook and Shawn Wederquist, discusses the basics of Construction Financial Statements. You will gain an understanding of financial statements…
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