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Financial Statements Demystified: A Practical Guide For Contractors

Randal DeHart

Understanding financial statements might sound daunting, but small business owners like you must stay on top of your game. Each financial report offers unique insights into your company's economic status. Let's look at the critical components of financial statements and why they matter to construction contractors.

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Construction Accounting Concepts You Can Benefit From Today

Randal DeHart

We'll discuss how these principles can help you keep track of financial transactions, create accurate financial statements, and make informed decisions for your business. Why Are Accounting Principles Important for Construction Businesses? So, let's dive in, shall we?

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Changes to Lease Accounting Rules (ASC 842)

SMBAccountant

The new lease accounting rules seek to make the impact ofleases more transparent within financial statements. timber, livestock) • Leases of inventory or assets under construction Many small businesses do not evaluate their lease activities on a regular basis. This was the catalyst for the change.

Account 246
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Interpreting Financial Statements: The Story Behind the Numbers

Dent Moses

Financial statements serve as a window into the health and performance of a business, offering valuable insights for investors, analysts, and stakeholders. The statements, including the income statement, balance sheet, and cash flow statement, provide a comprehensive view of a company’s financial position (and health).

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7 Key Benefits of Sage Intacct for Construction Companies

Cherry Bekaert

As the demand for new infrastructure, commercial and residential buildings, and renovations expands, the construction industry also faces labor shortages, rising materials costs, and supply chain delays. Improved Financial Visibility Sage for Construction provides real-time visibility into your company’s financial performance.

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Financial Modeling: A Comprehensive Step-by-Step Guide

Acterys

At its core, financial modeling involves building a quantitative representation of a companys financial situation. This process helps businesses predict their financial performance based on historical data and current market conditions. Build the Financial Model Use tools like Excel or Acterys to construct your financial model.

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Top Remote Accountants of the Week | August 29, 2024

Going Concern

ACCOUNTING CANDIDATES FTE Accounting | Candidate ID #22164759 Certifications: CPA in process Education: BA and MA Accounting Experience (years): 20 years business experience Work experience (detail): 6+ in public accounting Provides accounting services for multiple clients Payroll processing and tax filing Prepares Federal filings for SMBs, S-Corps (..)