In the construction industry, business is cyclical, receivables are often high and cash flow uneven. As a result, construction companies require a solid financial foundation or construction accounting services to keep them profitable and growing.
Affluent has extensive experience working with a wide range of construction companies. We provide general and commercial construction contractors, engineering and architecture firms, heavy and highway contractors, developers, subcontractors and suppliers, and home builders with a comprehensive range of business accounting, audit, tax and advisory services.
1. Audit and other assurance services:
We understand the construction accounting issues facing contractors. From percentage-of-completion accounting to revenue recognition to accounting for loss contracts, our professionals can help guide you to determine the impact to your financial statements.
2.Tax credit advisory:
Builders and developers are becoming more attuned to the benefits of tax incentives and credits for initiatives that include Brownfield development, energy efficiency, research and development (R&D) and historic preservation. Affluent has one of the most extensive tax credit practices in the country. We can quickly bring contractors up to speed on the potential financial benefits of these programs and staunchly defend client tax positions.
We help firms expand their bonding capacity and bank line of credit facilities.
4.Cash flow management:
The industry’s slim margins mean that even small changes in cash management can have a major financial impact. We work with construction companies to help them manage cash flow, minimize aging receivables on jobs with fiscal monitors, and drive expenses out of administrative, estimating, and operating processes.
For companies involved with government contracts, we help create cost accounting procedures and internal controls mandated by Federal Acquisition Regulations.