Accounting & Financial Management for Residential Construction

by Shinn, Emma

• ISBN13: 9780867186352
• ISBN10: 0867186356
• Edition: 5th
• Format: Paperback
• Copyright: 2008-03-01
• Publisher: Builderbooks

Summary

This solid resource for builders, remodelers, developers, and contractors provides detailed information on how an accounting system operates and the basic principles for processing financial data. This fifth edition explains how technology facilitates procedures for such items as accounts payable, change orders, and payroll and how it impacts processing systems. It explains the impact of additional management reports and how they can enhance and facilitate a manager?s job. The key measurements that residential construction professionals should track. The integration of job cost accounting with estimating, purchasing, and scheduling. The profit center concept for multiple-project companies and its reporting requirements. Every company should produce monthly financial statements and other reports for management use. Just as any home or building must rest on a secure and solid foundation, an understanding of accounting should be the firm foundation upon which a company rests

Author Biography

Emma Shinn specializes in accounting and financial management for the home building industry. Her background includes all aspects of the building process including planning, design, supervision, sales, and administration of single-family projects

Table of Contents

About the Author	p. vii
Acknowledgments	p. ix
Introduction	p. xi
Designing the System and Choosing an Accountant	p. 1
Basics of Accounting	p. 9
Accounting Methods and Terms	p. 27
Chart of Accounts	p. 35
Bookkeeping Procedures	p. 39
Internal Control	p. 47
Financial and Management Reports	p. 61
Financial Analysis	p. 77
Overview of Job Cost Accounting	p. 91
Processing Systems	p. 97
Tips for Multiple-Project Companies	p. 101
Tips for Developers	p. 107
Tips for Remodelers	p. 113
Financial Planning and Budget	p. 117
Technical Aspects of Accounting	p. 129
Part A Outline of NAHB Chart of Accounts	p. 137
Part B The Complete NAHB Chart of Accounts	p. 149
Basic Accounts for Small-Volume Businesses	p. 173
Basic Accounts for Remodelers	p. 179
Direct Construction Costs, Subsidiary Ledger	p. 185
Indirect Construction Costs, Subsidiary Ledger	p. 189
Land Development Costs, Subsidiary Ledger	p. 191
Glossary	p. 193
Notes	p. 199
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