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Is Construction a Good Investment?
I’ve been a management consultant to the construction industry for 40 years. I have taught construction business management at some of the nation's best construction universities. I have spoken at literally thousands of construction industry conventions. In all that...
The Problem with the Construction Business
In last week's message I closed my eyes and dropped a bomb. Did you hear it? If not, I suggest you go back and reread last week's message. For me to admit to my readers that construction financial accounting is, to a large degree inaccurate, is I assure you, quite a...
The Problem with Construction Accounting
The state-of-the-art in construction accounting has advanced over the years but continues to be an area of great concern. One of the most difficult and misunderstood processes in the construction business is capturing all the data accurately and in a timely fashion...
Management of Working Capital
The management of working capital in a construction company begins with a job-by-job cash flow plan. The individual cash flow plans are then consolidated into the monthly cash needs forecast. That forecast is revised regularly by the Chief Financial Officer as...
The Construction Cash Flow Dilemma
Managing cash flow in a construction company is a daunting task. The unique nature of the construction transaction makes it almost impossible to match cash flowing in with cash flowing out. Low bid margins are often so tight they’re insufficient to maintain ongoing...
The Soothsayer
You may remember the soothsayers described in ancient history who could predict the future. When they made pronouncements, their audience was comforted by having the scary unknown future become known. Thus, the name, sooth-sayers. They soothed the audience by putting...
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