General contractors for big-budget construction projects look for ways to manage risks, including the possibility that subcontractors won't perform the work they were hired to do.
In the News
Friday, March 29, 2019
Sooner or later, most construction firms need financing for an expansion, new equipment or a new facility. The process of approaching a lender can be daunting, but with a few well-planned steps, you can boost your chances of successfully finding the money you need.
Thursday, March 14, 2019
Let's say you're an electrical contractor. One of your employees bumps into an unoccupied scaffold on a construction site and destabilizes it. Which actions should you take to ensure the safety of workers and avoid liability?
Thursday, February 28, 2019
Buying another construction firm can be an attractive way to grow your company's revenue base.
Thursday, February 14, 2019
Financial statements are a must-have for any organization. The balance sheet reveals how much its assets and liabilities are worth based on historic costs. The income statement tells investors and lenders how profitably and efficiently the company has performed during the accounting period. The statement of cash flows details sources and uses of cash from operating, investing and financing activities. All this is relevant information for company insiders, as well as for lenders, bonding companies and other stakeholders.
Thursday, January 31, 2019
Three bricklayers are working on a job site. The first describes his job as "laying brick," while the second says he's "building a wall." But the third explains he's "constructing a children's cancer research facility."
Friday, January 18, 2019
The tax law permits you to deduct home office expenses if you "regularly and exclusively" use an area of your home as either: •Your principal place of business. •A place to meet or deal with clients, customers or patients in the normal course of business.
Thursday, January 3, 2019
Direct labor is one of your biggest costs, but tracking it can be an administrative nightmare. Workers often bounce from site to site, incur different labor rates for each job, and record time by hand, leading to all kinds of potential mistakes.
Thursday, December 20, 2018
The death of an employee who fell two stories to his death at a Massachusetts construction site might have been prevented if his employer had supplied the required fall protection, according to the Occupational Safety and Health Administration (OSHA).