Practical Construction Accounting And Financial Management
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| Author | : Stephen Peterson |
| Publisher | : Pearson Higher Ed |
| Total Pages | : 281 |
| Release | : 2013-10-03 |
| Genre | : Technology & Engineering |
| ISBN | : 1292054875 |
For all courses in construction accounting and construction finance, and for courses in engineering economics taught in construction management programs. This book helps construction professionals and construction management students master the principles of financial management, and adapt and apply them to the challenge of profitably managing construction companies. It integrates content that has traditionally been taught through separate accounting, finance, and engineering economics texts. Students learn how to account for a construction company’s financial resources; how to manage its costs, profits, and cash flows; how to evaluate different sources of funding a company’s cash needs; and how to quantitatively analyze financial decisions. Readers gain hands-on experience through 220 example problems and over 390 practice problems, many of them based on situations actually encountered by the author. This edition adds more than 100 new discussion questions, and presents financial equations and accounting transactions more visually to support more intuitive learning.
| Author | : Len Holm |
| Publisher | : Routledge |
| Total Pages | : 400 |
| Release | : 2018-09-03 |
| Genre | : Architecture |
| ISBN | : 1351376942 |
Proper cost accounting and financial management are essential elements of any successful construction job, and therefore make up essential skills for construction project managers and project engineers. Many textbooks on the market focus on the theoretical principles of accounting and finance required for head office staff like the chief financial officer (CFO) of a construction firm. This book's unique practical approach focuses on the activities of the construction management team, including the project manager, superintendent, project engineer, and jobsite cost engineers and cost accountants. In short, this book provides a seamless connection between cost accounting and construction project management from the construction management practitioner’s perspective. Following a complete accounting cycle, from the original estimate through cost controls to financial close-out, the book makes use of one commercial construction project case study throughout. It covers key topics like financial statements, ratios, cost control, earned value, equipment depreciation, cash flow, and pay requests. But unlike other texts, this book also covers additional financial responsibilities such as cost estimates, change orders, and project close-out. Also included are more advanced accounting and financial topics such as supply chain management, activity-based accounting, lean construction techniques, taxes, and the developer’s pro forma. Each chapter contains review questions and applied exercises and the book is supplemented with an eResource with instructor manual, estimates and schedules, further cases and figures from the book. This textbook is ideal for use in all cost accounting and financial management classes on both undergraduate and graduate level construction management or construction engineering programs.
| Author | : William Palmer |
| Publisher | : McGraw Hill Professional |
| Total Pages | : 630 |
| Release | : 1999-10-06 |
| Genre | : Business & Economics |
| ISBN | : 9780071359634 |
Publisher's Note: Products purchased from Third Party sellers are not guaranteed by the publisher for quality, authenticity, or access to any online entitlements included with the product.
| Author | : Andrew Ross |
| Publisher | : John Wiley & Sons |
| Total Pages | : 458 |
| Release | : 2013-01-29 |
| Genre | : Technology & Engineering |
| ISBN | : 1405125063 |
This authoritative text provides a detailed insight into how construction companies manage their finances at both corporate and project level. It will guide students and practitioners through the complexities of the financial reporting of construction projects within the constraints of accepted accounting practice. The book is written for non-accountants and from a contractor’s perspective and is equally relevant to subcontractors and main contractors. The authors examine the relationship between the external annual accounts and the internal cost-value reconciliation process. CVR is covered in depth and the authors consider issues such as interim payments, subcontract accounts, contractual claims, final accounts, cash flow management and the reporting of the physical and financial progress of contracts. A broad perspective of all the financial aspects of contracting is taken along with related legal issues and the authors explain how things operate in the ‘real world’. They describe good practice in financial control while at the same time being honest about some of the more questionable practices that can - and do - happen. The approach taken is unique as the financial management of construction projects is considered from the perspective of the contractor’s quantity surveyor. The book deals with the real issues that surveyors have to address when using their judgment to report turnover, profitability, cash flow, and work in progress on projects and the financial problems faced by subcontractors are frankly and pragmatically explored. The payment and notice requirements of the Construction Act are explained in detail and relevant provisions of JCT2011, NEC3, ICC, DOM/1 and other standard contracts and subcontracts are also covered. Financial Management in Construction Contracting addresses the wide variety of external factors that influence how construction companies operate, including government policy, banking covenants and the financial aspects of supply chain management. Cost reporting systems are described and real-life examples are used to illustrate cost reports, accrual systems and how computerised systems can be employed to provide the QS with information that can be audited. Examples drawn from practice demonstrate how work-in-progress (WIP) is reported in contracting. Cost value reconciliation reports are featured and the book demonstrates how adjustments are made for overmeasure, undermeasure, subcontract liabilities and WIP as well as explaining the processes that contractors use when analysing external valuations. This is the ideal core text for final year degree and post-graduate level modules on Quantity Surveying, Commercial Management, Construction Management and Project Management courses and will provide an invaluable source of reference for quantity surveyors and others who may be engaged in the financial management of construction projects. The book’s companion website at www.wiley.com/go/rossfinancialmanagement offers invaluable resources for students and lecturers as well as for practising construction managers: end-of-chapter exercises + outline answers PowerPoint slides for each chapter ideas for discussion topics links to useful websites
| Author | : Yunfeng Chen |
| Publisher | : |
| Total Pages | : 230 |
| Release | : 2022-06-15 |
| Genre | : |
| ISBN | : 9781612497655 |
Practical Construction Accounting and Financial Management provides instructions, training, exercises, and examples of the fundamentals that successful construction contractors must master: the ability to capture, summarize, analyze, and forecast operation data to be better informed when making project and business decisions. Typically, a project manager is not involved with data entry but is a source of data collection. Often the project manager?s lack of understanding of accounting systems creates a situation where the project manager?s role in the data retrieval and entry is compromised. This compromise results in poor decisions being made by the project and company managers due to inaccurate and untimely data. This book provides current and future construction professionals with an awareness of fundamental accounting concepts and financial principles to successfully manage the finances of construction companies, including accurately pricing projects based on actual overhead and profit recovery needs, successfully controlling the cost to operate a construction company through the comparison between company budgets and actual financial statements, and proactively forecasting cash needs before falling into a potential cash trap that could force the company into bankruptcy.
| Author | : Anthony Higham |
| Publisher | : Taylor & Francis |
| Total Pages | : 414 |
| Release | : 2016-12-08 |
| Genre | : Architecture |
| ISBN | : 1317377141 |
The world of construction is intrinsically linked with that of finance, from the procurement and tendering stage of projects right through to valuation of buildings. In addition to this, things like administrations, liquidations, mergers, take-overs, buy-outs and floatations affect construction firms as they do all other companies. This book is a rare explanation of common construction management activities from a financial point of view. While the practical side of the industry is illustrated here with case studies, the authors also take the time to build up an understanding of balance sheets and P&L accounts before explaining how common tasks like estimating or valuation work from this perspective. Readers of this book will not only learn how to carry out the tasks of a construction cost manager, quantity surveyor or estimator, they will also understand the financial logic behind them, and the motivations that drive senior management. This is an essential book for students of quantity surveying or construction management, and all ambitious practitioners.
| Author | : Michael C. Thomsett |
| Publisher | : Craftsman Book Company |
| Total Pages | : 370 |
| Release | : 2001-07 |
| Genre | : Business & Economics |
| ISBN | : 9781572181052 |
This book includes self-test section at the end of each chapter. Test yourself, then check answers in the back of the book to see how you score. CD-ROM included.
| Author | : Randy R. Rapp |
| Publisher | : Purdue University Press |
| Total Pages | : 406 |
| Release | : 2015 |
| Genre | : Business & Economics |
| ISBN | : 1557536465 |
Organizing and administering a construction site so that the right resources get to the right place in a timely fashion demands strong leadership and a rigorous process. Good logistical operations are essential to profitability, and this book is the essential, muddy boots guide to efficient site management. Written by experienced educator-practitioners from the world-leading Building Construction Management program at Purdue University, this volume is the ultimate guide to the knowledge, skills, and abilities that need to be mastered by project superintendents. Observations about leadership imperatives and techniques are included. Organizationally, the book follows site-related activities from bidding to project closeout. Beyond outlining broad project managerial practices, the authors drill into operational issues such as temporary soils and drainage structures, common equipment, and logistics. The content is primarily geared for the manager of a domestic or small commercial building construction project, but includes some reference to public and international work, where techniques, practices, and decision making can be substantially different. The book is structured into five sections and fifteen chapters. This facilitates ready adaptation either to industry training seminars or to university courses: Section I. The Project and Site Pre-Planning: The Construction Project and Site Environment (Randy R. Rapp); Due Diligence (Robert Cox); Site Organization and Layout (James O'Connor). Section II. The Site and Field Engineering Issues: Building Layout (Douglas Keith); Soil and Drainage Issues (Yi Jiang and Randy R. Rapp). Section III. Site Logistics: Site Logistical Procedures and Administration (Daphene Koch); Earthmoving (Douglas Keith); Material Handling Equipment (Bryan Hubbard). Section IV. Leadership and Control: Leadership and Communication (Bradley L. Benhart); Health, Safety, Environment (HSE), and Security (Jeffrey Lew); Project Scheduling (James Jenkins); Project Site Controls (Joseph Orczyk); Inspection and QA/QC (James Jenkins). Section V. Planning for Completion: Site-Related Contract Claims (Joseph Orczyk); Project Closeout (Randy R. Rapp).
| Author | : Matt Stevens |
| Publisher | : McGraw Hill Professional |
| Total Pages | : 417 |
| Release | : 2006-11-09 |
| Genre | : Business & Economics |
| ISBN | : 007163147X |
This detailed overview of the construction contracting business delivers an invaluable collection of best practices, forms, templates, and checklists designed to reduce risks and increase profits. Contractors will learn everything they need to know about the make-or-break areas of estimating, pricing, bidding, project management, and financial management. The author is well-known in the industry, with a weekly newsletter, website, online digest, regular column for Contractor magazine, and 70-plus seminar bookings for 2006 Extensive examples and illustrations help readers apply the insights offered
| Author | : John Schaufelberger |
| Publisher | : Taylor & Francis |
| Total Pages | : 296 |
| Release | : 2024-03-14 |
| Genre | : Architecture |
| ISBN | : 1003856225 |
Unique among construction project management textbooks, Management of Construction Projects, third edition, takes the constructor’s perspective, carefully analyzing a complex, real-world construction case study from multiple angles to demonstrate the skills, knowledge, and techniques students require to become successful project managers. Popular as an undergraduate text and as a contractor resource, the book identifies key stages of the project-management process, such as delivery methods and contracts; estimating, planning, and scheduling; preconstruction services; subcontracting and material management; documentation, communications, and payment; controls, quality, and safety; leadership and ethics; and claims, disputes, and close-out. This third edition includes a novel case study, a new chapter on preconstruction services, updated contract forms and figures, and additional student exercises, and integrates use of project management technology. Topics include building information models, sustainable construction, environmental compliance, lean construction, and off-site construction. Boxed examples, or short case studies, have been included with each chapter. These examples correspond directly to the chapters in which they are included and give the reader an applied approach to learning the concepts presented. While primarily focused on the management of commercial projects, the principles and techniques in Management of Construction Projects also apply to residential, industrial, and heavy construction. Written in straightforward language from a constructor’s perspective, this textbook prepares upcoming construction project managers with everything they need to see a successful project through from start to finish.
