On today’s episode of the Tim Faller Show, we welcome Trevor Robertson from Innovative Design Build, who will talk about how he uses change orders and how they are coded for cost accounting. Trevor is the Project Manager who oversees the process and communicates the changes with the accounting team. He will also discuss how
Financial metrics can help you make strategic decisions that could mean the difference between great success and dismal failure. A Certified Public Accountant (CPA) is someone who is knowledgeable and proactive and can compile and analyze these numbers. Louise Bartley, CPA, at Coale, Pripstein & Associates, in Columbia, Md., discusses the role of the CPA
Don’t just drift through the marketplace. By Victoria Downing. A budget is one of the most important tools to help you and your company succeed. It’s your plan for profit — the road map that you’ll follow throughout the year with a planned destination of profit. Business owners who work without a budget just drift
Happy New Year! Although I typically don’t make New Year’s resolutions, I want you to make some; these are all guaranteed to make your life better by improving your remodeling business and by making your financials for December more accurate. AND, even better, the numbers you enter for your Roundtables Spring Focus Packet (due February
You’re probably sitting around thinking “Now that the year’s over what would Judith do with all this information?” Today’s your lucky day because I’ve been thinking the very same thing: after tidying up your Balance Sheet here are useful analysis you can do with year-end information. But FIRST, make sure your Balance Sheet accounts are
I’m just returning from Remodeling Excellence week in Kansas City where I not only facilitated two fantastic Remodelers Advantage Roundtables groups, but I also had several sessions during the week’s capstone event: The Remodelers Summit. As usual, I heard some fascinating stories and learned more about some of the unique challenges Remodelers face. Unfortunately, I also
You do want to know your gross margin every month in 2016 – right? That’s a critical metric to watch as it defines your sales success and production efficiency: raise your rates and your margin goes up, increase labor productivity and margin goes up. Good stuff! Now, IF you want the very most accurate gross
Understanding indirect expenses will greatly benefit your remodeling business. By pretending they don’t matter, you’re jeopardizing your remodeling company’s fiscal health. Last week one of my very favorite people (yes you, that’s right YOU!) and I agreed to ‘argue’ about Indirect Expenses. This is so important to me (and to you!) that I dropped everything
Have you ever said “I know I should understand my financials but they just don’t interest me?” Have you even thought it? Admit it, probably! Owners of most remodeling companies came from design or production backgrounds, few from accounting. In fact the simple term “job cost accounting” recently caused looks of disdain and disgust among
Do you find yourself constantly aggravated about never having the cash on hand to accomplish all you desire or the capacity to jump at opportunities as they arise? As small amounts of reserve capital begin to accumulate, it’s incredible how many demands surface to deplete us of that money: quarterly tax deposits, a job gone
