Doesn't every accountant know how to do construction accounting??
Construction contractors require a specialized accounting method to tell the proper story about the health of their business.
Unfortunately, construction accounting is not always taught in college and many accountants are unaware or self-taught. Finding someone with the knowledge and skills you need is like looking for the proverbial needle in a haystack!
This creates a level of frustration for construction company owners as they didn't go into business to do "the books" and they just want help.
If this has ever happened to you, we can help you fix it.
Just like contractors specialize in certain areas of the industry, so do accountants. No only is construction accounting not always taught in college, accountants have been on the top most in-demand jobs for a decade. All of this causes construction owners to be searching for someone to help them, but leaves them disappointed because:
- They don't have time to dig into the accounting and financial side of their business.
- They don't want to dig into the accounting and financial side of their business.
- They don't want to go home and be the CFO of their business on the weekends. They need a break too.
- Why can't someone just take care of it or train their staff or contribute or help in some way? Why is it so hard?
In summary: Construction accountants have become a unicorn.
There aren’t many accountants and even fewer understand construction accounting. This leaves the construction business owner in a frustrating, discouraged position as they just want help managing the financial side of their business so that they can manage customers, employees, vendors, subs, sales, operations and the long list of other duties.
As prior construction company owners, we understand the demands of the day-to-day operations and that many times the financial side of the business is NOT where you want to focus. We get it and we are CPAs!
We quickly recognized that to increase the profit in our construction company, we had to have a system that allowed for estimators, project managers and the accounting staff to work together. For that to happen, everyone in that group had to understand something about the financial side of construction and the accounting staff needed to be operating at a higher level.
We often said, “I wish we had a library of topics that we could pull from” when we ran into a question, wanted to train someone on a financial segment or didn’t want to spend hours searching the internet for hints.
"Atlas CFO training has been tremendous for us! I have been in the construction industry for 20 years and have a broad understanding of what's required but I am no accountant. More than anything, the training has helped us understand what the sureties and insurance agents want to see in the format they want to see it. Atlas CFO explains what the numbers really mean.
We are builders not accountants, but they make it simple to understand.
Without reservation, I would recommend any construction company to utilize the training course."
Denver, Owner, Infrastructure Contractor
We started the All Access platform for this very reason. We wanted to create a library of topics so that other contractors wouldn’t have the same struggles we did. We wanted to create resources that would be:
- affordable to contractors.
- a system for training other accountants on producing financial statements for sureties and banks that made the relationship better.
- done-for-you templates that allowed contractors to create their own scorecard and manage their cash flow.
We wanted to create a community of commercial construction contractors that want to improve their financial position.
All Access has over 100 resources and access to all our current and future content. The resources are in the form of how-to videos, templates and checklists that allow you to learn and then create.
Here is a quick snip of just a few videos in the WIP segment.
Get Access Today and Start Changing the Future of Your Construction Company!
Topics in All Access include, but not limited to:
- How to create a system of construction accounting that is easy to follow and understand
- How to create and review the Work-in-Progress report and percent-complete financial statements so the numbers mean something to you
- Financial reporting for owners, sureties, and bankers so everyone knows how the business is doing
- How to read financial statements for contractors so you know if your business is doing well
- Cash flow management so you don’t have to struggle
- Software selection so you know you are setting it up right
- Job costing so you know how your jobs are doing
- Key financial ratios and analysis so you know what the bank and the surety are talking about
- Financial Scorecard specifically built for contractors so you can measure what matters
- Budgets so you stay on track and don’t spend more than you should
Common Questions
Who benefits the most from the content in All Access?
Although everyone is welcome, we find that there are several groups that find the content especially helpful:
- Construction business owners that are tired of being frustrated with the financial side of their business
- Accounting staff in construction companies - many times upon direction from the owner
- Operations/PMs that was to learn about increasing profit in the company and how financial data works
- Outsourced/outside accountants that want to serve this industry and their clients better
What if I want more help than the DIY model?
We find that some of our members do just fine on the DIY platform. Others have specific issues that they would like our input. If you would like a more custom approach, please email us at [email protected] and we can discuss our two options of monthly or weekly coaching.
How long is a typical membership?
Most of our members have been with us for years. Because we add or highlight content each month and have an every-growing library, our members stay with us. Additionally, you can email us with any questions or content requests so it is like having a personal CFO trainer at a minimum cost. The membership is month-to-month, cancel anytime.