A CPA'S REPORT FOR THE CONSTRUCTION INDUSTRY
Fall 2011

Diversifying? Be Prepared for Surprises

Branching out into new types of work can be a wise strategy - even an essential one. But it also ex-poses your company to new risks. If you are thinking of bidding on projects that are outside your area of expertise, be sure you enter the new field with your eyes wide open.

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Make Collections Everyone's Priority

Getting paid promptly is always important, but in today's economy it's especially critical. Contractors and subcontractors are bidding jobs more aggressively, with thinner margins and less room for error. Any delay in payment only adds to the challenge.

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Protect Yourself Against Volatile Material Costs

Although prices for commodities such as raw copper and aluminum have climbed steadily from their lows of 2009, the prices of many other building materials have been relatively constant, held back by continuing low demand.

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Sound Security Practices Can Help Reduce Losses

Rising scrap metal and commodity prices, coupled with a slow economy, are causing many contractors to take a closer look at jobsite security. While headlines recount the most daring thefts, such as stealing entire air-conditioning systems to salvage the copper coils, even less audacious crimes can take a toll on your business.

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The articles in this newsletter are general in nature and are not a substitute for accounting, legal, or other professional services. We assume no liability for the reader's reliance on this information. Before implementing any of the ideas contained in this publication, consult a professional advisor to determine whether they apply to your unique circumstances. © 2013