Download or read book Financial Management in Construction Contracting written by Andrew Ross and published by John Wiley & Sons. This book was released on 2013-01-29 with total page 458 pages. Available in PDF, EPUB and Kindle. Book excerpt: This authoritative text provides a detailed insight into how construction companies manage their finances at both corporate and project level. It will guide students and practitioners through the complexities of the financial reporting of construction projects within the constraints of accepted accounting practice. The book is written for non-accountants and from a contractor’s perspective and is equally relevant to subcontractors and main contractors. The authors examine the relationship between the external annual accounts and the internal cost-value reconciliation process. CVR is covered in depth and the authors consider issues such as interim payments, subcontract accounts, contractual claims, final accounts, cash flow management and the reporting of the physical and financial progress of contracts. A broad perspective of all the financial aspects of contracting is taken along with related legal issues and the authors explain how things operate in the ‘real world’. They describe good practice in financial control while at the same time being honest about some of the more questionable practices that can - and do - happen. The approach taken is unique as the financial management of construction projects is considered from the perspective of the contractor’s quantity surveyor. The book deals with the real issues that surveyors have to address when using their judgment to report turnover, profitability, cash flow, and work in progress on projects and the financial problems faced by subcontractors are frankly and pragmatically explored. The payment and notice requirements of the Construction Act are explained in detail and relevant provisions of JCT2011, NEC3, ICC, DOM/1 and other standard contracts and subcontracts are also covered. Financial Management in Construction Contracting addresses the wide variety of external factors that influence how construction companies operate, including government policy, banking covenants and the financial aspects of supply chain management. Cost reporting systems are described and real-life examples are used to illustrate cost reports, accrual systems and how computerised systems can be employed to provide the QS with information that can be audited. Examples drawn from practice demonstrate how work-in-progress (WIP) is reported in contracting. Cost value reconciliation reports are featured and the book demonstrates how adjustments are made for overmeasure, undermeasure, subcontract liabilities and WIP as well as explaining the processes that contractors use when analysing external valuations. This is the ideal core text for final year degree and post-graduate level modules on Quantity Surveying, Commercial Management, Construction Management and Project Management courses and will provide an invaluable source of reference for quantity surveyors and others who may be engaged in the financial management of construction projects. The book’s companion website at www.wiley.com/go/rossfinancialmanagement offers invaluable resources for students and lecturers as well as for practising construction managers: end-of-chapter exercises + outline answers PowerPoint slides for each chapter ideas for discussion topics links to useful websites

Download or read book Financial Management in Construction Contracting written by Andrew Ross and published by John Wiley & Sons. This book was released on 2012-11-30 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: This authoritative text provides a detailed insight into howconstruction companies manage their finances at both corporate andproject level. It will guide students and practitioners through thecomplexities of the financial reporting of construction projectswithin the constraints of accepted accounting practice. The book iswritten for non-accountants and from a contractor’sperspective and is equally relevant to subcontractors and maincontractors. The authors examine the relationship between the external annualaccounts and the internal cost-value reconciliation process. CVR iscovered in depth and the authors consider issues such as interimpayments, subcontract accounts, contractual claims, final accounts,cash flow management and the reporting of the physical andfinancial progress of contracts. A broad perspective of all the financial aspects of contractingis taken along with related legal issues and the authors explainhow things operate in the ‘real world’. They describegood practice in financial control while at the same time beinghonest about some of the more questionable practices that can - anddo - happen. The approach taken is unique as the financialmanagement of construction projects is considered from theperspective of the contractor’s quantity surveyor. The bookdeals with the real issues that surveyors have to address whenusing their judgment to report turnover, profitability, cash flow,and work in progress on projects and the financial problems facedby subcontractors are frankly and pragmatically explored. The payment and notice requirements of the Construction Act areexplained in detail and relevant provisions of JCT2011, NEC3, ICC,DOM/1 and other standard contracts and subcontracts are alsocovered. Financial Management in Construction Contractingaddresses the wide variety of external factors that influence howconstruction companies operate, including government policy,banking covenants and the financial aspects of supply chainmanagement. Cost reporting systems are described and real-lifeexamples are used to illustrate cost reports, accrual systems andhow computerised systems can be employed to provide the QS withinformation that can be audited. Examples drawn from practice demonstrate how work-in-progress(WIP) is reported in contracting. Cost value reconciliation reportsare featured and the book demonstrates how adjustments are made forovermeasure, undermeasure, subcontract liabilities and WIP as wellas explaining the processes that contractors use when analysingexternal valuations. This is the ideal core text for final year degree andpost-graduate level modules on Quantity Surveying, CommercialManagement, Construction Management and Project Management coursesand will provide an invaluable source of reference for quantitysurveyors and others who may be engaged in the financial managementof construction projects. The book’s companion website at ahref="http://www.wiley.com/go/xxxx"www.wiley.com/go/rossfinancialmanagement/a offersinvaluable resources for students and lecturers as well as forpractising construction managers: end-of-chapter exercises + outline answers PowerPoint slides for each chapter ideas for discussion topics links to useful websites

Download or read book Risk and Financial Management in Construction written by Simon A. Burtonshaw-Gunn and published by Taylor & Francis. This book was released on 2017-03-02 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: In today’s climate the need for a closer understanding of the relationship between the two inter-related topics of risk management and finance on construction projects is becoming increasingly crucial to achieving the objectives of the investor, the end-user and the constructor and its supply chain, especially as interest in PFI and PPP arrangements continues to grow around the world. Risk and Financial Management in Construction shows the relationship between the Construction Project Manager’s task of balancing time, cost and quality and the need to satisfy the client’s requirements efficiently, effectively and professionally whilst at the same time contributing to the contractor’s future sustainability. The book covers Risk Management describing the tools and methods to reduce the occurrence and consequences of risk, and the financial management of construction projects from raising funding, to contract strategy and through to estimating, budgeting and cost control. It includes a chapter covering international project risk, bringing together the issues of risk management, prime contracting, and PFI funding for construction projects undertaken away from the contractors main home market. Risk and Financial Management in Construction is aimed at those practising in, or studying to enter, the project management profession in providing a strategic and operational knowledge of these subjects allowing the reader easy access to the key points through a wide selection of models, checklists and easy to find lists in all of the key areas.

Download or read book Financial Management and Accounting Fundamentals for Construction written by Daniel W. Halpin and published by John Wiley & Sons. This book was released on 2011-09-09 with total page 323 pages. Available in PDF, EPUB and Kindle. Book excerpt: TECHNOLOGY/ENGINEERING/CIVIL SUCCESSFUL FINANCIAL MANAGEMENT IN THE CONSTRUCTION INDUSTRY BEGINS WITH THIS HANDS-ON GUIDE While construction professionals are skilled in the technical side of their work, they often find the financial management aspect of the business daunting. Financial Management and Accounting Fundamentals for Construction will help you better understand and navigate the financial decisions that are part of every construction project. This book is a compact summary of the basic financial skills that a construction professional must have to be successful in the management of a construction company and its projects. Its topics address many of the questions that any construction administrator will face, such as: How to organize and use a company's financial reports What amount of cash must be made available to the contractor to complete a project Why the early payment of supplier invoices can enhance profitability How to quantify the time value of money in financial decisions What tax amount is owed by a company and how it impacts the bottom line How to control project costs What financial sources are available to a construction contractor for capital expansion In this text, you will learn about accounting fundamentals, project-related financial matters, and company level financial issues three factors that are key to your career success. An ideal reference for students of construction management and engineering, as well as professionals who need a quick refresher when dealing with cost control analysis and other financial issues, this text also offers: Easy-to-understand coverage of financial concepts specific to the construction industry, including business taxation, project control, engineering economy, and financial forecasting Numerous worked examples, plus end-of-chapter review questions and exercises Helpful appendices that present the structure of a typical chart of accounts, the flow of transactions through a construction accounting system, and tables required for computing interest and the time value of money

Download or read book Construction Accounting Financial Management written by Stephen Peterson and published by Pearson Higher Ed. This book was released on 2013-10-03 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: For all courses in construction accounting and construction finance, and for courses in engineering economics taught in construction management programs. This book helps construction professionals and construction management students master the principles of financial management, and adapt and apply them to the challenge of profitably managing construction companies. It integrates content that has traditionally been taught through separate accounting, finance, and engineering economics texts. Students learn how to account for a construction company’s financial resources; how to manage its costs, profits, and cash flows; how to evaluate different sources of funding a company’s cash needs; and how to quantitatively analyze financial decisions. Readers gain hands-on experience through 220 example problems and over 390 practice problems, many of them based on situations actually encountered by the author. This edition adds more than 100 new discussion questions, and presents financial equations and accounting transactions more visually to support more intuitive learning.

Download or read book Project Management for Construction written by Chris Hendrickson and published by Chris Hendrickson. This book was released on 1989 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Practical Construction Accounting and Financial Management written by Yunfeng Chen and published by . This book was released on 2022-06-15 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: Practical Construction Accounting and Financial Management provides instructions, training, exercises, and examples of the fundamentals that successful construction contractors must master: the ability to capture, summarize, analyze, and forecast operation data to be better informed when making project and business decisions. Typically, a project manager is not involved with data entry but is a source of data collection. Often the project manager?s lack of understanding of accounting systems creates a situation where the project manager?s role in the data retrieval and entry is compromised. This compromise results in poor decisions being made by the project and company managers due to inaccurate and untimely data. This book provides current and future construction professionals with an awareness of fundamental accounting concepts and financial principles to successfully manage the finances of construction companies, including accurately pricing projects based on actual overhead and profit recovery needs, successfully controlling the cost to operate a construction company through the comparison between company budgets and actual financial statements, and proactively forecasting cash needs before falling into a potential cash trap that could force the company into bankruptcy.

Download or read book Construction Accounting Financial Management written by William Palmer and published by McGraw Hill Professional. This book was released on 1999-10-06 with total page 630 pages. Available in PDF, EPUB and Kindle. Book excerpt: Publisher's Note: Products purchased from Third Party sellers are not guaranteed by the publisher for quality, authenticity, or access to any online entitlements included with the product.

Download or read book Code of Practice for Project Management for Construction and Development written by CIOB (The Chartered Institute of Building) and published by John Wiley & Sons. This book was released on 2014-09-15 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first edition of the Code of Practice for Project Management for Construction and Development, published in 1992, was groundbreaking in many ways. Now in its fifth edition, prepared by a multi-institute task force coordinated by the CIOB and including representatives from RICS, RIBA, ICE, APM and CIC, it continues to be the authoritative guide and reference to the principles and practice of project management in construction and development. Good project management in construction relies on balancing the key constraints of time, quality and cost in the context of building functionality and the requirements for sustainability within the built environment. Thoroughly updated and restructured to reflect the challenges that the industry faces today, this edition continues to drive forward the practice of construction project management. The principles of strategic planning, detailed programming and monitoring, resource allocation and effective risk management, widely used on projects of all sizes and complexity, are all fully covered. The integration of Building Information Modelling at each stage of the project life is a feature of this edition. In addition, the impact of trends and developments such as the internationalisation of construction projects and the drive for sustainability are discussed in context. Code of Practice will be of particular value to clients, project management professionals and students of construction, as well as to the wider construction and development industries. Much of the information will also be relevant to project management professionals operating in other commercial spheres.

Download or read book Project Finance for Construction written by Anthony Higham and published by Taylor & Francis. This book was released on 2016-12-08 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world of construction is intrinsically linked with that of finance, from the procurement and tendering stage of projects right through to valuation of buildings. In addition to this, things like administrations, liquidations, mergers, take-overs, buy-outs and floatations affect construction firms as they do all other companies. This book is a rare explanation of common construction management activities from a financial point of view. While the practical side of the industry is illustrated here with case studies, the authors also take the time to build up an understanding of balance sheets and P&L accounts before explaining how common tasks like estimating or valuation work from this perspective. Readers of this book will not only learn how to carry out the tasks of a construction cost manager, quantity surveyor or estimator, they will also understand the financial logic behind them, and the motivations that drive senior management. This is an essential book for students of quantity surveying or construction management, and all ambitious practitioners.

Download or read book Managing the Profitable Construction Business written by Thomas C. Schleifer and published by John Wiley & Sons. This book was released on 2014-02-21 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Take control of your construction contracting business and manage it through the natural highs and lows of the construction market. Learn from a team of construction business veterans led by Thomas C. Schleifer, who is commonly referred to as a construction business "turnaround" expert due to the number of construction companies he has rescued from financial distress. His financial acumen, combined with his practical, hands-on experience, has made him a sought-after private consultant. His experience and no-nonsense philosophy have truly given him a unique perspective. Important topics covered include: Understanding the primary areas of construction business failure in the next decade Minimizing business risk with real-world examples Developing a positive and competent management attitude and strategy Discover how to maneuver through this complicated and risky industry by using the authors' research and proven success strategies to sustain and grow your business.

Download or read book Home Builder Contracts and Construction Management Forms written by NAHB Business Management and published by Builderbooks. This book was released on 2006 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nearly 100 of the most useful business forms and contracts for builders are gathered from builders across the country: sales and marketing forms, contracts, agreements, trade contractor specifications, checklists, orientation and quality control documents, and more. Documents can be downloaded from the CD and customized.

Download or read book Financial Management of Construction Contractors written by Chris J. Lacaria and published by . This book was released on 1994 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Managing a Construction Firm on Just 24 Hours a Day written by Matt Stevens and published by McGraw Hill Professional. This book was released on 2006-11-09 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: This detailed overview of the construction contracting business delivers an invaluable collection of best practices, forms, templates, and checklists designed to reduce risks and increase profits. Contractors will learn everything they need to know about the make-or-break areas of estimating, pricing, bidding, project management, and financial management. The author is well-known in the industry, with a weekly newsletter, website, online digest, regular column for Contractor magazine, and 70-plus seminar bookings for 2006 Extensive examples and illustrations help readers apply the insights offered

Download or read book Business Principles for Landscape Contracting written by Steven Cohan and published by Routledge. This book was released on 2018-04-09 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business Principles for Landscape Contracting, fully revised and updated in its third edition, is an introduction to the application of business principles of financial management involved in setting up your own landscape contracting business and beginning your professional career. Appealing to students and professionals alike, it will build your knowledge of financial management tools and enable you to relate their applications to real-life business scenarios. Focusing on the importance of proactive financial management, the book serves as a primer for students in landscape architecture, contracting, and management courses and entrepreneurs within the landscape industry preparing to use business principles in practice. Topics covered include: Financial management and accountability Budget development Profitable pricing and estimating Project management Creating a lean culture Personnel management and employee productivity Professional development Economic sustainability.

Download or read book Construction Business Management written by Nick B. Ganaway and published by Routledge. This book was released on 2007-06-01 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: Only 43 per cent of U.S. construction firms remain in business after four years. Why? Inadequate management, according to the U.S. Small Business Administration. This is surprising because most construction firms are formed by ambitious construction project managers, executives and tradesmen who have excelled at what they have been doing. But as experienced as these entrepreneurs may be, they are not likely prepared to take on the full range of responsibilities forced on them in managing the business of construction in its entirety. While this business failure rate and its causes are based on U.S. experience, available data from a number of other industrialized countries shows they are similar. This book describes in detail what the business side of the construction equation requires of the construction firm owner. The contractor who quickly learns these requirements can identify and avoid or manage around the pitfalls that cause the high failure rate in our industry and put his or her construction firm on a level playing field with the best-run companies in the business. The detailed duties of the owner, whether in the U.S., U.K., Australia or Canada, are a common theme throughout the book. The author, Nick Ganaway, speaks peer-to-peer, and the book is sprinkled with supporting examples from his own experience. He is immersed in the industry and this book is "based on the things I've learned, used, and refined as a light-commercial general contractor in the course of starting and operating my own construction firm for 25 years." The contractor doing $5 million or $50 million or more in annual sales or the equivalent amount in other countries, or the entrepreneur who is just starting up, can use the tried and proven material in this book to build a business that is profitable, enjoyable, and enduring. Additionally, the book devotes a chapter to specializing in chain-store construction.

Download or read book Principles of Project Finance written by E. R. Yescombe and published by Academic Press. This book was released on 2013-11-13 with total page 575 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Second Edition of this best-selling introduction for practitioners uses new material and updates to describe the changing environment for project finance. Integrating recent developments in credit markets with revised insights into making project finance deals, the second edition offers a balanced view of project financing by combining legal, contractual, scheduling, and other subjects. Its emphasis on concepts and techniques makes it critical for those who want to succeed in financing large projects. With extensive cross-references and a comprehensive glossary, the Second Edition presents anew a guide to the principles and practical issues that can commonly cause difficulties in commercial and financial negotiations. - Provides a basic introduction to project finance and its relationship with other financing techniques - Describes and explains: sources of project finance; typical commercial contracts (e.g., for construction of the project and sale of its product or services) and their effects on project-finance structures; project-finance risk assessment from the points of view of lenders, investors, and other project parties; how lenders and investors evaluate the risks and returns on a project; the rôle of the public sector in public-private partnerships and other privately-financed infrastructure projects; how all these issues are dealt with in the financing agreements