As a construction business owner, understanding your company's financials is crucial to ensuring its success. One of the most important...

Keeping track of income and expenses for long-term construction projects can be overwhelming. Fortunately, the CFMA has recommended a method of accounting that makes this task much easier. This method is known as the percentage of completion. With over 8,200 members in the US and Canada, CFMA offers educational activities, publications, and networking. They are a reputable association that promotes best practices in financial management and works to meet the needs of constr

Every construction project has its own problems. Many of the big challenges that construction companies face are managing costs,...

Construction companies operate in a unique financial landscape. They have ongoing projects and costs that change, which can make it hard...

Creating an effective WIP report may be challenging. We've prepared this blog to simplify the WIP report's components with an infographic.

If you're a construction business owner, general contractor, or subcontractor and you're not reviewing a current WIP report at least monthly, you're flying blind on every active job. Work in Progress (WIP) reports are one of the most powerful financial tools in construction accounting and one of the most misunderstood. A single miscalculation can quietly drain your cash flow, put your bonding capacity at risk, and leave you scrambling at tax time. At CCA, we've worked with hu