What It's About:
Many construction business owners do not fully understand their financial reports; instead, they rely on a CPA to tell them if they made any money. The problem is that CPAs and builders often speak two different languages. Your accountant talks about Generally Accepted Accounting Principles (GAAP) while you talk cash and what’s in your bank account. These two things are not the same, and it's destroying your profits. In this advanced session, learn how to build profit into every job, set the profits aside through a custom cash management strategy and change the way you do business to make your money work. By gaining a better understanding of your financial reports, you can increase profits, make accurate tax payments, eliminate debt and streamline your business.
What You'll Learn:
Learn how to understand and evaluate your income statement (P&L) to determine markup and margin without the help of a CPA.
Develop a cash management system that will increase profits and eliminate waste.
Create a debt-elimination plan for your business, and a cash flow plan for future purchases and expenses.
Learn how to leverage Parkinson's Law, and other behaviors, backed by neuroscience, to establish best practices for operating your construction businesses.
How to Attend:
Participants must be registered for a full registration package or a 1-day education with expo pass package valid for the day of the session they wish to attend. Seating for Building Knowledge sessions will be on a first-come, first-served basis.
NAHB - 1.00 CE hour(s), NKBA - 0.1 CEU(s), AIA – 1.0 LU Hour(s)
AIA CES Credit Eligible:
NAHB is a Registered Provider with the American Institute of Architects Continuing Education Systems. Credit earned on completion of this course will be reported to CES Records for AIA members by the Provider. Certificates of Completion are available upon request.