Is your business presenting as materially deficient?

 




I was recently asked to review the financial statements of a general contractor.

My opening conclusion?

“The current financial presentation is materially deficient for a construction-related business and does not provide management with an accurate or useful picture of operating performance.”

The numbers are there. The useful information isn't.

Putting transactions into QuickBooks does not automatically create meaningful financial statements.

Neither does having “CPA” after someone's name automatically mean they understand job costing, construction margins or how a contractor should structure their chart of accounts.

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