CONSTRUCTION ACCOUNTING

MANAGEMENT TOOLS TO BUILD BUSINESS

Construction accounting requires industry specific knowledge that not every accountant has. With over 50 years of service to the construction industry, our construction industry team provides you with construction specific experience in services to meet your needs. We serve clients from start-up to 3rd generation businesses and look forward to serving with you.

We offer construction accounting to a variety of general and subcontractors:

  • General building
  • Electrical
  • Specialty trade
  • Heavy machinery
  • Highway construction
  • Home builders
  • Mechanical
  • Plumbing and HVAC

SERVICES FOR CONSTRUCTION BUSINESSES

We offer a variety of services and important tools for construction contractors.

Job Costing Analysis

We offer job costing analysis to help you track the costs of each job or project and to provide you with an accurate picture of the costs the project will accumulate. Increasing your knowledge of the costs of labor, materials, and overhead your project uses will help plan your next project bid. This information is important because it can help with the estimating of your future construction projects of similar nature. Using job costing analysis will lead to better management decisions, project estimation, more profitable projects, and timely financial reporting.

Estimator Tools

We understand that estimates are one of the most important aspects of a construction project because it is connected with the forecasting of the total costs of the project. Our estimator tools will help your company’s estimators produce accurate, profitable bids. We know that you need a competitive bid in order to undertake the construction projects you desire. Our estimator tools are here to help you construct a competitive bid and give you an educated estimate of the profit you can expect to receive from the project. 

Public Works Assistance 

There are often different requirements for public works jobs because they are infrastructural projects paid for and constructed by the government. We understand that it can sometimes be difficult to navigate these requirements; Our public works assistance specializes in helping you with these governmental nuances so that your community and governmental projects can move forward without interruption. 

State Licensing Laws

Every state has its own licensing laws for construction projects. Some states will require registration, while other states may require licensing or certification. The processes behind obtaining the proper certification can also vary from state to state. Navigating these different laws in different states can be tricky and time consuming. We can guide you through the process of acquiring the proper permits you need to be compliant with the state. 

Bonding Assistance

Construction bonds are required for most, if not all, construction projects. Many insurance companies look at a business’s relationship with their CPA to decide if you can be bonded. Additionally, a good CPA can help you reach higher levels of bonding because the more secure an investor feels in your financial information, the more flexibility they will be willing to grant to meet your bonding needs. Cooper Norman offers only top-tier CPA assistance with your construction projects.

Cash Flow Management

Cash flow issues are common in the construction industry. You can have a very profitable business and still need help navigating your cash flow. Cooper Norman offers highly trained services in cash flow management so that your company can have the financial health it deserves without interruption to you, your projects, or the growth of your company. You may not have the time to analyze finances and determine the cash flow of your company. Let Cooper Norman take care of it for you by providing the tools and resources needed to analyze your business’s cash needs.

Tax Planning and Preparation

We love to show business owners how to save money on their taxes. As you save money on taxes, you will increase your profits and grow your company. Additionally, your company’s success will create more jobs. Believe it or not, as small businesses grow the economy improves. Every business owner benefits from tax planning and preparation. Your business may be making company expenses that are deductible. Cooper Norman offers professional, experienced accounting services that can help you find common deductions that you may currently be omitting. Meet with us for tax planning to start increasing your bottom line.

Construction Contract Assistance

In any project your company manages, it is important to have a construction contract to help keep your company free from unnecessary obligation or risk. There are different ways to account for construction contracts. Using the wrong one can result in an interest free loan to Uncle Sam. Cooper Norman is prepared to help you navigate the specifics of construction contracts, and therefore, to help ensure the safety of your business.

Audit and Assurance Services

As your company grows, Cooper Norman is ready to provide you with auditing and assurance services that meet your business’s evolving needs. We are prepared to provide you with complete and accurate financial audits and analyze the processes, operations, and controls of your construction business to ensure the quality of your operations. 

Multi-State Tax

Sometimes your construction contracts can take you outside of your home state. Often this scenario leads to withholding income taxes for multiple states. We have dedicated professionals that analyze tax laws in every state. Save time and avoid mistakes by letting us help you with your multi-state taxes.

Business Transition Planning

Business owners invest a lot into their companies to help them become successful. However, not many business owners know how to go about exiting their business while preserving the company that they have grown. Every business owner needs an exit strategy and construction companies are no exception. We can help you strategize the best ways to facilitate the transition from one ownership of your business to another while maximizing the value of your business.

Cooper Norman’s Construction Accounting

Not every accountant has the expertise and training that you need to help your business. Cooper Norman is prepared to offer industry specific services to meet your business’s construction accounting needs. Contact us today to get started.