Return on Investment (ROI) measures the amount of return on an investment relative to the investment’s cost. It is used to evaluate the efficiency or profitability of an investment or compare the efficiency of several different investments. ROI is universally applicable, making it crucial for assessing the viability of various financial decisions.
The Construction Company Accountant plays a vital role in overseeing the financial health of construction projects, ensuring that costs are accounted for and reported accurately. They are key partners in ensuring that construction projects not only stay on track but also deliver on financial goals.
Read MoreCFMA's 2024 Financial Benchmarker shows the construction industry's strong performance in 2023 despite economic challenges. Companies achieved a 10.4% revenue increase and higher profitability, with net income before taxes at 6.3%. Top firms excelled in cost management and asset use, indicating areas for improvement industry-wide.
Read MoreCost codes are vital for accurate job costing in construction. This guide covers their importance, how to set them up in QuickBooks Online, and best practices for improved budgeting, financial reporting, and cost control, ensuring better project outcomes.
Read MoreIn the fast-paced world of construction, managing finances can be especially challenging due to the complexity of long-term projects, multiple job sites, and changing contracts. Construction companies must adopt construction accounting software that complies with Generally Accepted Accounting Principles (GAAP).
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