Builder's Guide to Accounting
Are you a builder, not an accountant? Can you manage your crews better than your accounts receivable? Is your time better spent at the jobsite than at a desk piled with accounting ledgers? If so, then this book is for you. It's a comprehensive, completely revised and updated guide to construction accounting. It tells, step-by-step, and in plain English, how to choose, set up and maintain an appropriate, efficient, and practical bookkeeping system for your construction business. This book will...
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Are you a builder, not an accountant? Can you manage your crews better than your accounts receivable? Is your time better spent at the jobsite than at a desk piled with accounting ledgers? If so, then this book is for you. It's a comprehensive, completely revised and updated guide to construction accounting. It tells, step-by-step, and in plain English, how to choose, set up and maintain an appropriate, efficient, and practical bookkeeping system for your construction business. This book will prove invaluable for students studying for contractor's license exams, teachers of contractor's license preparation courses, self-employed builders & construction contractors, and developers. You won't find incomprehensible economics/accounting theory here. You get straightforward, practical information and advice on how to: build a customized accounting system from the ground up, set up an easy-to-use depreciation system that complies with IRS rules; keep records of job costs, do trend analysis & budgeting; handle sales & accounts receivable; set bad debt procedures; manage payroll, materials & inventory; prepare financial statements - when, how, which & why; maintain ledgers and balance sheets; and close the books. For students and teachers, or builders who want to check their understanding as they go along, this new edition includes a self-test section at the end of each chapter.
Sect. 1Sales and Accounts Receivable51Why Keep Records?72Accounting Methods213Cash and Charge Sales334Managing Receivables475Bad Debt Procedures556Sales Records and Cash Budgeting637Sales Planning698Planning for Profits75Sect. 2Costs and Expenses839Check Writing and Recording8510Accounting for Materials10311Payroll Accounting11312Overhead Expenses12913Equipment Records14314Cash Budgeting16115Cost and Expense Records17316Accounting for Costs and Expenses18117Petty Cash Funds19118Balancing the Checking Account19719Accounting for Estimates205Sect. 3Financial Statements21320Recording Before the Event21521Financial Statements22322Using Financial Information23323Financial Ratios23924Putting Together a Statement24725Comparative Period Statement25726Restatements by Accounting Methods26727Statements by Job27328Statements for Loan Applications281Appendix289Index315
