Accounting and Financial Management For Residential Construction (5th Edition)

Take control of your finances with Accounting and Financial Management.

This solid resource for builders, remodelers, developers and contractors provides detailed information on how an accounting system operates and the basic principles for processing financial data. This fifth edition includes the updated NAHB Chart of Accounts and explains...

• how technology facilitates procedures for such items as accounts payable, change orders and payroll and how it impacts processing systems
• the impact of additional management reports and how they can enhance and facilitate a manager's job
• the key measurements that residential construction professionals should track
• the integration of job cost accounting with estimating, purchasing and scheduling
• the profit center concept for multiple-project companies and its reporting requirements
• how to guide and evaluate your company's financial performance.

TABLE OF CONTENTS

About the Author, vii
Acknowledgments, ix
Introduction, xi
Chapter 1, Designing the System and Choosing an Accountant, 1
Chapter 2, Basics of Accounting, 9
Chapter 3, Accounting Methods and Terms, 27
Chapter 4, Chart of Accounts, 35
Chapter 5, Bookkeeping Procedures, 39
Chapter 6, Internal Control, 47
Chapter 7, Financial and Management Reports, 61
Chapter 8, Financial Analysis, 77
Chapter 9, Overview of Job Cost Accounting, 91
Chapter 10, Processing Systems, 97
Chapter 11, Tips for Multiple-Project Companies, 101
Chapter 12, Tips for Developers, 107
Chapter 13, Tips for Remodelers, 113
Chapter 14, Financial Planning and Budget, 117
Chapter 15, Technical Aspects of Accounting, 129Appendix A, Part A Outline of NAHB Chart of Accounts 137
Appendix B, Part B The Complete NAHB Chart of Accounts 149
Appendix C, Basic Accounts for Small-Volume Businesses 173
Appendix D, Basic Accounts for Remodelers 179
Appendix E, Direct Construction Costs, Subsidiary Ledger, 185
Appendix F, Indirect Construction Costs, Subsidiary Ledger, 189
Appendix G, Land Development Costs, Subsidiary Ledger, 191
Glossary, 193
Notes, 199