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Covering topics like:
Job-Costing, Construction Accounting, and Profit-Building
Timing is Everything – Part II:
Adjusting Income & Cost for Spec Homes, Lots,
Completed Contract, Inter-Company & Owners’ Jobs
Approximately 70 minutes:
- Recap of major points from Part 1.
- Cheat sheet: Entries required for different types of jobs (except POC)
- Accounts you may need to create for income and cost adjustments
- Sample profitability reports before income and cost adjustments
- 5 Steps to getting started
- Making entries:
- Permanent entries vs. Temporary entries
- Personal, internal, or inter-company jobs
- Spec homes and lots
- Long-term jobs
- When is a job closed?
- Sample profitability reports after adjustments (can you find the mistake?)
This is Part II of the “construction income adjustments” series of workshops.
Please see the following workshops for Parts I & III to access additional detailed accounting concepts & procedures: