What Is Project Management's Impact on Financial Reporting?
Somerset can provide a training class for your project managers to teach them how effective project management can make a difference on the bottom line of a project. We cover the following and much more:
- Where income is
affected and cash is trapped: underbillings, unapproved change orders,
unpriced change orders, slow collections of accounts
receivable and conservative estimating
or lack of revision to estimated costs (project gain).
- How to manage change orders and price them to include estimate of costs
for general
conditions.
- How untimely, inaccurate financial statements impact management
decisions, reaction time,
impact bonding capacity and ability to get projects.
- How to be more proactive on contract billings and be assertive on
accounts receivable
collections.
The result will be a better prepared project management team that will put what they learn to work and improve productivity and efficiency on projects. Please contact us to discuss this service.
Work-In-Process is provided by
Somerset for our clients and other interested persons upon request.
Since technical information is presented in generalized fashion, no
final conclusion on these topics should be made without further review.
For additional information on the issues discussed,
please contact
Ken
Hedlund,
Jay Feller,
Steve George,
Chris
Mayfield or
Rebecca Ogle
of our
Construction & A/E Team.
This document is not intended or written to be used, and cannot be used,
for the purpose of avoiding tax penalties that may be imposed on the
taxpayer.
Somerset CPAs,
P.C.
3925 River Crossing Parkway, Third Floor
Indianapolis, Indiana 46240
317.472.2200 • 800.469.7206 • FAX 317.208.1200
www.somersetcpas.com
