Financial Management And Accounting Fundamentals For Construction

Author : Daniel W. Halpin,Bolivar A. Senior
Publisher : John Wiley & Sons
Page : 320 pages
File Size : 47,7 Mb
Release : 2011-09-09
Category : Technology & Engineering
ISBN : 9781118174272

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Financial Management and Accounting Fundamentals for Construction by Daniel W. Halpin,Bolivar A. Senior Pdf

TECHNOLOGY/ENGINEERING/CIVIL SUCCESSFUL FINANCIAL MANAGEMENT IN THE CONSTRUCTION INDUSTRY BEGINS WITH THIS HANDS-ON GUIDE While construction professionals are skilled in the technical side of their work, they often find the financial management aspect of the business daunting. Financial Management and Accounting Fundamentals for Construction will help you better understand and navigate the financial decisions that are part of every construction project. This book is a compact summary of the basic financial skills that a construction professional must have to be successful in the management of a construction company and its projects. Its topics address many of the questions that any construction administrator will face, such as: How to organize and use a company's financial reports What amount of cash must be made available to the contractor to complete a project Why the early payment of supplier invoices can enhance profitability How to quantify the time value of money in financial decisions What tax amount is owed by a company and how it impacts the bottom line How to control project costs What financial sources are available to a construction contractor for capital expansion In this text, you will learn about accounting fundamentals, project-related financial matters, and company level financial issues—three factors that are key to your career success. An ideal reference for students of construction management and engineering, as well as professionals who need a quick refresher when dealing with cost control analysis and other financial issues, this text also offers: Easy-to-understand coverage of financial concepts specific to the construction industry, including business taxation, project control, engineering economy, and financial forecasting Numerous worked examples, plus end-of-chapter review questions and exercises Helpful appendices that present the structure of a typical chart of accounts, the flow of transactions through a construction accounting system, and tables required for computing interest and the time value of money

Author : Stephen Peterson
Publisher : Pearson Higher Ed
Page : 281 pages
File Size : 46,9 Mb
Release : 2013-10-03
Category : Technology & Engineering
ISBN : 9781292054872

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Construction Accounting & Financial Management by Stephen Peterson Pdf

For all courses in construction accounting and construction finance, and for courses in engineering economics taught in construction management programs. This book helps construction professionals and construction management students master the principles of financial management, and adapt and apply them to the challenge of profitably managing construction companies. It integrates content that has traditionally been taught through separate accounting, finance, and engineering economics texts. Students learn how to account for a construction company’s financial resources; how to manage its costs, profits, and cash flows; how to evaluate different sources of funding a company’s cash needs; and how to quantitatively analyze financial decisions. Readers gain hands-on experience through 220 example problems and over 390 practice problems, many of them based on situations actually encountered by the author. This edition adds more than 100 new discussion questions, and presents financial equations and accounting transactions more visually to support more intuitive learning.

Author : Andrew Ross,Peter Williams
Publisher : John Wiley & Sons
Page : 458 pages
File Size : 51,7 Mb
Release : 2013-01-29
Category : Technology & Engineering
ISBN : 9781405125062

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Financial Management in Construction Contracting by Andrew Ross,Peter Williams Pdf

This authoritative text provides a detailed insight into how construction companies manage their finances at both corporate and project level. It will guide students and practitioners through the complexities of the financial reporting of construction projects within the constraints of accepted accounting practice. The book is written for non-accountants and from a contractor’s perspective and is equally relevant to subcontractors and main contractors. The authors examine the relationship between the external annual accounts and the internal cost-value reconciliation process. CVR is covered in depth and the authors consider issues such as interim payments, subcontract accounts, contractual claims, final accounts, cash flow management and the reporting of the physical and financial progress of contracts. A broad perspective of all the financial aspects of contracting is taken along with related legal issues and the authors explain how things operate in the ‘real world’. They describe good practice in financial control while at the same time being honest about some of the more questionable practices that can - and do - happen. The approach taken is unique as the financial management of construction projects is considered from the perspective of the contractor’s quantity surveyor. The book deals with the real issues that surveyors have to address when using their judgment to report turnover, profitability, cash flow, and work in progress on projects and the financial problems faced by subcontractors are frankly and pragmatically explored. The payment and notice requirements of the Construction Act are explained in detail and relevant provisions of JCT2011, NEC3, ICC, DOM/1 and other standard contracts and subcontracts are also covered. Financial Management in Construction Contracting addresses the wide variety of external factors that influence how construction companies operate, including government policy, banking covenants and the financial aspects of supply chain management. Cost reporting systems are described and real-life examples are used to illustrate cost reports, accrual systems and how computerised systems can be employed to provide the QS with information that can be audited. Examples drawn from practice demonstrate how work-in-progress (WIP) is reported in contracting. Cost value reconciliation reports are featured and the book demonstrates how adjustments are made for overmeasure, undermeasure, subcontract liabilities and WIP as well as explaining the processes that contractors use when analysing external valuations. This is the ideal core text for final year degree and post-graduate level modules on Quantity Surveying, Commercial Management, Construction Management and Project Management courses and will provide an invaluable source of reference for quantity surveyors and others who may be engaged in the financial management of construction projects. The book’s companion website at www.wiley.com/go/rossfinancialmanagement offers invaluable resources for students and lecturers as well as for practising construction managers: end-of-chapter exercises + outline answers PowerPoint slides for each chapter ideas for discussion topics links to useful websites

Author : Steven J. Peterson
Publisher : Unknown
Page : 0 pages
File Size : 53,8 Mb
Release : 2022
Category : Construction industry
ISBN : OCLC:1369586279

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Construction Accounting and Financial Management by Steven J. Peterson Pdf

Author : William E. Coombs
Publisher : Forgotten Books
Page : 493 pages
File Size : 52,8 Mb
Release : 2015-06-13
Category : Business & Economics
ISBN : 1330289706

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Construction Accounting and Financial Management by William E. Coombs Pdf

Excerpt from Construction Accounting and Financial Management Although accounting principles do not change, I think it is reasonable to say that their application to any particular industry, and to any specific business in that industry, usually requires careful analysis and sound judgment. This statement is certainly true of the construction industry. This book cannot take the place of detailed information nor of the experience with individual problems of any particular construction company. It can, however, survey the problems peculiar to the construction industry and indicate how to apply standard accounting techniques to arrive at sound solutions. With operating conditions so varied and the individual contractor's circumstances likely to be so complex, it is often necessary to go back and review basic accounting and business principles in relation to the specific conditions in a given company before management can use accounting as a true operational tool. It is for this reason that this book is devoted more to the "why" than to the "how" of construction accounting. Certainly, among the techniques described, the experienced accountant will find few, if any, that are basically unfamiliar to him, but he may see them applied in ways that may be somewhat unexpected. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

Author : Yunfeng Chen,Frederick Barnes Muehlhausen
Publisher : Unknown
Page : 230 pages
File Size : 41,8 Mb
Release : 2022-06-15
Category : Electronic
ISBN : 1612497659

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Practical Construction Accounting and Financial Management by Yunfeng Chen,Frederick Barnes Muehlhausen Pdf

Practical Construction Accounting and Financial Management provides instructions, training, exercises, and examples of the fundamentals that successful construction contractors must master: the ability to capture, summarize, analyze, and forecast operation data to be better informed when making project and business decisions. Typically, a project manager is not involved with data entry but is a source of data collection. Often the project manager?s lack of understanding of accounting systems creates a situation where the project manager?s role in the data retrieval and entry is compromised. This compromise results in poor decisions being made by the project and company managers due to inaccurate and untimely data. This book provides current and future construction professionals with an awareness of fundamental accounting concepts and financial principles to successfully manage the finances of construction companies, including accurately pricing projects based on actual overhead and profit recovery needs, successfully controlling the cost to operate a construction company through the comparison between company budgets and actual financial statements, and proactively forecasting cash needs before falling into a potential cash trap that could force the company into bankruptcy.

Author : Steven J. Peterson MBA, PE
Publisher : Pearson Higher Ed
Page : 355 pages
File Size : 51,9 Mb
Release : 2012-03-14
Category : Technology & Engineering
ISBN : 9780133072921

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Construction Accounting & Financial Management by Steven J. Peterson MBA, PE Pdf

This is the eBook of the printed book and may not include any media, website access codes, or print supplements that may come packaged with the bound book. CONSTRUCTION ACCOUNTING & FINANCIAL MANAGEMENT, 3/e helps construction professionals and construction management students master the principles of financial management, and adapt and apply them to the challenge of profitably managing construction companies. It integrates content that has traditionally been taught through separate accounting, finance, and engineering economics texts. Students learn how to account for a construction company’s financial resources; how to manage its costs, profits, and cash flows; how to evaluate different sources of funding a company’s cash needs; and how to quantitatively analyze financial decisions. Readers gain hands-on experience through 220 example problems and over 390 practice problems, many of them based on situations actually encountered by the author. This edition adds more than 100 new discussion questions, and presents financial equations and accounting transactions more visually to support more intuitive learning.

Author : Len Holm
Publisher : Routledge
Page : 400 pages
File Size : 52,7 Mb
Release : 2018-09-03
Category : Architecture
ISBN : 9781351376945

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Cost Accounting and Financial Management for Construction Project Managers by Len Holm Pdf

Proper cost accounting and financial management are essential elements of any successful construction job, and therefore make up essential skills for construction project managers and project engineers. Many textbooks on the market focus on the theoretical principles of accounting and finance required for head office staff like the chief financial officer (CFO) of a construction firm. This book's unique practical approach focuses on the activities of the construction management team, including the project manager, superintendent, project engineer, and jobsite cost engineers and cost accountants. In short, this book provides a seamless connection between cost accounting and construction project management from the construction management practitioner’s perspective. Following a complete accounting cycle, from the original estimate through cost controls to financial close-out, the book makes use of one commercial construction project case study throughout. It covers key topics like financial statements, ratios, cost control, earned value, equipment depreciation, cash flow, and pay requests. But unlike other texts, this book also covers additional financial responsibilities such as cost estimates, change orders, and project close-out. Also included are more advanced accounting and financial topics such as supply chain management, activity-based accounting, lean construction techniques, taxes, and the developer’s pro forma. Each chapter contains review questions and applied exercises and the book is supplemented with an eResource with instructor manual, estimates and schedules, further cases and figures from the book. This textbook is ideal for use in all cost accounting and financial management classes on both undergraduate and graduate level construction management or construction engineering programs.

Author : William E. Coombs,William J. Palmer
Publisher : McGraw-Hill Companies
Page : 616 pages
File Size : 48,8 Mb
Release : 1977
Category : Business & Economics
ISBN : UOM:39015006075181

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Construction Accounting and Financial Management by William E. Coombs,William J. Palmer Pdf

Author : Frank Dagostino
Publisher : Unknown
Page : 601 pages
File Size : 48,6 Mb
Release : 2008
Category : Electronic
ISBN : 8131739198

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Construction Accounting and Financial Management by Frank Dagostino Pdf

Author : William Palmer,William E. Coombs,Mark A. Smith
Publisher : McGraw Hill Professional
Page : 630 pages
File Size : 43,9 Mb
Release : 1999-10-06
Category : Business & Economics
ISBN : 007135963X

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Construction Accounting & Financial Management by William Palmer,William E. Coombs,Mark A. Smith Pdf

Publisher's Note: Products purchased from Third Party sellers are not guaranteed by the publisher for quality, authenticity, or access to any online entitlements included with the product.

Author : Joe F. McCarthy
Publisher : Pareto
Page : 452 pages
File Size : 49,9 Mb
Release : 2010
Category : Architectural firms
ISBN : 0979996910

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Construction Project Management by Joe F. McCarthy Pdf

".. integrates business knowledge, principles and practices of project managment and construction management... will help you achieve a strategic vision, continuously improve construction operations and manage industrial, commercial and institutional projects from conception to occupancy." -- Publisher's description.

Author : William E. Coombs
Publisher : Forgotten Books
Page : 492 pages
File Size : 41,6 Mb
Release : 2017-09-15
Category : Business & Economics
ISBN : 1528449142

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Construction Accounting and Financial Management (Classic Reprint) by William E. Coombs Pdf

Excerpt from Construction Accounting and Financial Management Although accounting principles do not change, I think it is reasonable to say that their application to any particular industry, and to any specific business in that industry, usually requires careful analysis and sound judgment. This statement is certainly true of the construction industry. This book cannot take the place of detailed information nor of the experience with individual problems of any particular construction company. It can, how ever, survey the problems peculiar to the construction industry and indicate how to apply standard accounting techniques to ar rive at sound solutions. With operating conditions so varied and the individual con tractor's circumstances likely to be so complex, it is often necessary to go back and review basic accounting and business principles in relation to the specific conditions in a given company before management can use accounting as a true operational tool. It is for this reason that this book is devoted more to the why than to the how of construction accounting. Certainly, among the techniques described, the experienced accountant will find few, if any, that are basically unfamiliar to him, but he may see them applied in ways that may be somewhat unexpected. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

Author : James Wiedemann,Robert Mercado
Publisher : John Wiley & Sons
Page : 224 pages
File Size : 49,7 Mb
Release : 2020-07-21
Category : Business & Economics
ISBN : 9781119746508

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Construction Contractors: Accounting and Auditing by James Wiedemann,Robert Mercado Pdf

With construction activity increasing and significant changes to the revenue recognition model, it is more important than ever for accountants and financial managers to be on top of the very latest in accounting and auditing changes for the construction industry. This guide examines the most recent updates and key issues impacting construction accounting and auditing. It covers new changes as a result of FASB ASU 2014-09, it also explores the relationship between the contractor and the surety.

Author : Emma Shinn
Publisher : Builderbooks
Page : 0 pages
File Size : 47,6 Mb
Release : 2008
Category : Construction industry
ISBN : 0867186356

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Accounting and Financial Management for Residential Construction by Emma Shinn Pdf

Shinn provides detailed information on how an accounting system operates and the basic principles for processing financial data. This fifth edition includes the updated NAHB Chart of Accounts, and shows builders how to take control of their finances.