Xero

OCTOBER 23, 2022

They are often very good at their key skill set – whether it be construction or digital marketing – but they don’t know their core numbers.” . Supporting cash flow management. Cash flow is a very real and impacting factor for the survival of small businesses. Using data to build confidence.

XERO 174

XERO Invoicing Customer Service Budgeting 174

IMA's Count Me

MAY 5, 2024

Wingate unravels the tangled web of communications within finance and back office teams, especially within the construction sector. Hear how real-time project management and meticulous bookkeeping are game-changers for cash flow and project success.

Bookkeeping 45

Bookkeeping Accounting Accounting 45

Less Accounting

JUNE 15, 2023

Are you a construction business owner struggling with keeping track of your finances? In this article, we’ll walk you through the essential steps of accounting for your construction business. Key Takeaways Understanding accounting principles and financial statements is crucial for construction businesses.

Financial Statements 52

Financial Statements Accounting Accounting Budgeting 52

Xero

JULY 28, 2022

eCommerce is driving many businesses towards new tools like A2X and Link My Books to streamline their sales, stay on top of cash flow and better serve their customers. Digital toolboxes to help you on the construction site. New ways to support businesses selling online. Time saving tools to get your freedom back.

XERO 262

XERO Bookkeeping Reconciling Budgeting 262

Less Accounting

MAY 13, 2024

However, effective bookkeeping is vital for maintaining the financial health of the business, managing cash flows, and making well-informed strategic decisions. For example, a construction company was able to reduce tax filing errors and avoid penalties by using outsourced bookkeeping services that guaranteed compliance with tax regulations.

Outsourced Bookkeeping 59

Outsourced Bookkeeping Bookkeeping Bookkeeping Services Small Business Bookkeeping 59

Accounting Tools

JULY 31, 2023

Capitalization of Interest Costs If a company constructs fixed assets, the interest cost of any borrowed funds used to pay for the construction can also be capitalized and recorded as part of the underlying fixed assets. This step is usually only taken for substantial construction projects.

Record Keeping 75

Record Keeping Financial Statements Computation Budgeting 75

Xero

JULY 28, 2022

Financial services at Xero empower small businesses and their advisors to take control of their cash flow and financial future by providing trusted insights and services. These growing pains many small businesses face are a challenge we see for the sector and can quickly turn into stressful cash flow situations. .

Bookkeeping 193

Bookkeeping XERO Invoicing Financial Services 193

Counto

FEBRUARY 17, 2024

This expansion aims to provide SMEs with greater flexibility and support in managing their operational cash flow requirements. This extension enables construction firms to pursue and execute key projects with confidence, contributing to the growth of the construction sector.

Budgeting 52

Budgeting Tax Accounting Accounting 52

Counto

FEBRUARY 17, 2024

This expansion aims to provide SMEs with greater flexibility and support in managing their operational cash flow requirements. This extension enables construction firms to pursue and execute key projects with confidence, contributing to the growth of the construction sector.

Budgeting 52

Budgeting Tax Accounting Accounting 52

Accounting Tools

MAY 9, 2024

For example, the analysis of a decision to construct a facility in a particular city could include quantitative factors, such as the amount of tax breaks that can be obtained, as well as qualitative factors, such as the rating of the schools in that city to which workers would send their children. Identify relevant costs and benefits.

Financial Analysis 40

Financial Analysis Tax 40

Accounting Tools

SEPTEMBER 7, 2023

Related Courses The Statement of Cash Flows What is the Cash Flow Statement Indirect Method? The indirect method for the preparation of the statement of cash flows involves the adjustment of net income with changes in balance sheet accounts to arrive at the amount of cash generated by operating activities.

Financial Statements 75

Financial Statements Accounts Receivable Accounts Receivable Account Receivables 75

Accounting Tools

APRIL 13, 2023

Related Courses Construction Accounting Fixed Asset Accounting How to Audit Fixed Assets What is Capitalized Interest? Capitalized interest is the cost of the funds used to finance the construction of a long-term asset that an entity constructs for itself. During this time, ABC has a loan outstanding on which it pays 7.5%

Accruals 75

Accruals Record Keeping Auditing Accounting 75

Accounting Tools

MAY 6, 2024

What is the Operating Cash Flow Ratio? The operating cash flow ratio measures the ability of a business to pay for its current liabilities from its reported operating cash flows. The best-case scenario is when the ratio reveals operating cash flows that are several multiples of the liabilities that must be settled.

Accruals 40

Accruals Financial Statements Accounting Accounting 40

AvidXchange

JANUARY 18, 2024

Jackson Land Development Jackson Land Development is a Pompano Beach, Florida-based business that delivers underground construction services, including excavation and finish grading, to residential and commercial land developers. The company’s mission is to be an industry leader, providing ultimate value and satisfaction to its customers.

AP 52

AP Data Entry Invoicing Accounts Payable 52

Nanonets

FEBRUARY 12, 2024

Construction management is a highly specialized and complex process that requires the coordination of many moving parts involving humans, resources, and teams all the while working on strict timelines to complete the construction project on time and within budget. Here are some of the best Construction OCR software in 2024.

Data Entry 52

Data Entry Budgeting Invoicing AP 52

Accounting Tools

MAY 10, 2024

The carrying amount is not recoverable when it exceeds the sum of the undiscounted cash flows expected to result from use of the asset over its remaining useful life and final disposition. Examples of such situations are: Cash flow. There are historical and projected operating or cash flow losses associated with the asset.

Auditing 40

Auditing Accounting Accounting 40

Accounting Tools

JUNE 16, 2023

The second application of the adjusted trial balance has fallen into disuse, since computerized accounting systems automatically construct financial statements. In the latter case, the adjusted trial balance is critically important - financial statements cannot be constructed without it.

General Ledger 74

General Ledger Financial Statements Accruals Bookkeeping 74

Less Accounting

APRIL 16, 2024

Bookkeeping, often perceived merely as the basic recording of financial transactions, is in reality the bedrock upon which small businesses can construct a detailed and insightful view of their financial health. Tracking & Managing Cash Flow One of the first benefits of diligent bookkeeping is the ability to track and manage cash flow.

Bookkeeping 59

Bookkeeping Budgeting Financial Records Bookkeeping Services 59

AvidXchange

JULY 14, 2022

By the end of 2025, the Infrastructure Investment and Jobs Act will have created 461,000 new construction jobs. In a press release from the Associated Builders and Contractors (ABC), ABC Chief Economist Anirban Basu said: “The workforce shortage is the most acute challenge facing the construction industry despite sluggish spending growth.

AP 52

AP Billing Invoicing Accounting 52

Accounting Tools

JULY 24, 2023

Related Courses The Balance Sheet The Income Statement The Statement of Cash Flows The key components of the financial statements are the income statement , balance sheet , and statement of cash flows. Also, the accuracy of this document can be suspect when the cash basis of accounting is used. For example: Auditor perspective.

Financial Statements 75

Financial Statements Accruals Auditing Accounting 75

CSI Accounting & Payroll

JULY 3, 2023

Whether your landscaping business specializes in lawn and tree care, garden, lighting, or landscaping construction, if it doesn't operate year-round, you're going to face an off season. Your cash flow is important, and having it interrupted can be critical.

Payroll 52

Payroll Accounting Accounting Small Business Accounting 52

Accounting Tools

JULY 21, 2023

Value-in-use is the net present value of the cash flows generated by an asset as it is currently being used by the owner. This amount may be less than the net present value of cash flows from the highest and best use to which an asset can be put. Related Courses Fair Value Accounting What is Value-in-Use?

Accounting 40

Accounting Accounting 40

Accounting Tools

APRIL 6, 2024

Smaller organizations usually construct their master budgets using electronic spreadsheets. However, spreadsheets may contain formula errors, and also have a difficult time constructing a budgeted balance sheet. Larger organizations use budget-specific software, which does not have these two problems.

Budgeting 74

Budgeting Accounts Receivable Accounts Receivable Account Receivables 74

Accounting Tools

JULY 25, 2023

For example, a construction company needs to know what style of home to build in a certain area, and relies on a local population expert to find out that the area in question is being abandoned by younger families and replaced by an older, retirement-age group. Consequently, the builder constructs smaller one-level homes with fewer bedrooms.

Budgeting 40

Budgeting 40

Accounting Tools

FEBRUARY 15, 2024

A financial analysis report is constructed by a person who is researching a company, usually with the intent of recommending its stock to investors. The analysis includes a thorough review of the cash flow , liquidity , and debt levels of the business, with projections for how they might change in the future.

Financial Analysis 72

Financial Analysis Financial Statements 72

Accounting Tools

SEPTEMBER 24, 2023

Related Courses How to Conduct an Audit Engagement The Balance Sheet The Income Statement The Statement of Cash Flows What are Audited Financial Statements? If the statement is qualified, it means that the auditor took exception to certain aspects of the financial statements, or the underlying information used to construct the statements.

Financial Statements 40

Financial Statements Auditing CPA Financial Reporting 40

Accounting Tools

SEPTEMBER 6, 2023

For example, an outside auditor should be able to construct the same financial statement results as a client, using the same set of financial records and using the same assumptions applied by the client. By examining these documents, one can see if there is a logical flow from the source documents to the financial statements.

Financial Statements 40

Financial Statements Accounting Accounting Auditing 40

Accounting Tools

JULY 16, 2023

A more complex budget contains a sales forecast , the cost of goods sold and expenditures needed to support the projected sales, estimates of working capital requirements, fixed asset purchases, a cash flow forecast , and an estimate of financing needs.

Budgeting 74

Budgeting Computation Accounting Accounting 74

Nanonets

APRIL 4, 2023

Improve your Argus models by extracting data from construction documents on the go. Improve your Argus models by extracting data from construction documents on the go. They can also use it to forecast cash flows over time and make informed decisions about the risks and rewards of an investment.

Financial Analysis 52

Financial Analysis Accounting Accounting 52

Accounting Tools

JULY 23, 2023

Investors prefer cumulative preferred stock, since they will earn the right to receive dividends at some point in the future, even if the company does not have the cash flow to make the payments right now.

Accounting 40

Accounting Accounting 40

Accounting Tools

APRIL 16, 2023

Related Courses The Interpretation of Financial Statements The Statement of Cash Flows What is the Cash Flow Statement Direct Method? The direct method of presenting the statement of cash flows presents the specific cash flows associated with items that affect cash flow.

Cash Collection 40

Cash Collection Collections Reconciling Financial Statements 40

Accounting Tools

JULY 30, 2023

Related Courses Budgeting Financial Forecasting and Modeling The Statement of Cash Flows What is Pro Forma Cash Flow? Pro forma cash flow is the estimated amount of cash inflows and outflows expected in one or more future periods. Another alternative is to plan for expenditure reductions in order to avoid future cash usage.

Budgeting 40

Budgeting Accounts Payable Accounts Payable Billing 40

Accounting Tools

OCTOBER 7, 2023

This model is usually constructed on an electronic spreadsheet, using summary-level revenues and expenses , and employing formulas that change the results of the model when certain variables are altered. Such a model is a mathematical representation of the key variables impacting an organization.

Budgeting 40

Budgeting Accounting Accounting 40

Accounting Tools

JULY 12, 2023

More specifically, the hurdle rate is the discount rate for which the cash flows of a proposed capital purchase must generate zero or positive discounted cash flows. This means that a risky project will only be accepted if it generates unusually high cash flows. Consider the alternatives noted below.

Financial Analysis 40

Financial Analysis Budgeting 40

Accounting Tools

JULY 21, 2023

This happens when the carrying amount exceeds the sum of the undiscounted cash flows expected to result from the use of the asset over its remaining useful life and the final disposition of the asset. The bulk of these cash flows are usually derived from subsequent use of the asset, since the disposition price may be low.

Accounting 40

Accounting Accounting Auditing 40

Accounting Tools

JULY 30, 2023

A complete set of audit procedures is needed before the auditor has enough information to decide whether a client's financial statements fairly represent its financial results, financial position , and cash flows.

Auditing 75

Auditing Financial Statements Invoicing Accounting 75

Accounting Tools

MARCH 7, 2024

When constructing an expected present value of future cash flows , one should use a credit-adjusted risk-free rate to discount cash flows to their present value. Follow these steps in calculating the expected present value of an ARO: Estimate the timing and amount of the cash flows associated with the retirement activities.

Financial Statements 40

Financial Statements Accounting Accounting 40