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4 ways to do project management just a little bit better

Contractors manage projects every day. But, as the construction industry evolves, so does their need to keep getting just a little better at project management. This article describes four ways to gain a competitive edge when managing jobs. They involve preconstruction planning, simplifying field systems, and training managers and then holding them accountable.   Read More  >>

Rev up revenue by contributing to a cost segregation study

Contributing services to a cost segregation study remains a viable option for contractors to rev up revenue. It allows building owners to maximize their current tax deductions by using shorter lives and faster depreciation rates for qualifying parts of their properties. This article offers a quick review of the pertinent aspects and how contractors can contribute their expertise.   Read More  >>

New Guidance Addresses Certain Leasing Arrangements

The Financial Accounting Standards Board (FASB) has issued new guidance that permits private companies following Generally Accepted Accounting Principles (GAAP) to, in some circumstances, elect not to consolidate the financial reporting from variable interest entities (VIEs) that lease property to them. This article explains how to determine whether an entity is a VIE and when a private company may elect an alternative not to apply the previously established GAAP VIE guidance to a lessor. However, a sidebar discusses certain disclosures that will still be required.    Read More  >>

More than money: Customer-smart invoicing

Sending customers an invoice and receiving their payment sounds simple. But the process can be so much more — it can be an opportunity to improve business relationships and gather useful data. It’s called “customer-smart invoicing,” and it’s about more than just money. This article examines the two basic concepts underlying customer-smart invoicing: communication and information.   Read More  >>

How can I get my technology in order?

In a recent survey of contractors, more than a quarter of respondents reported that they haven’t integrated all of their software. This issue’s “Contractor’s Corner” looks at implementing a companywide strategic IT plan. Doing so involves defining IT objectives and then taking a phased approach to adopting technology — just like a construction project!   Read More  >>