Financial reports such as balance sheets and profit and loss statements show a company's financial health at the time of the report, but they may not always show the full picture. These statements do ...

Every business leader should probably have at least a rudimentary understanding of accounting. It’s not about becoming an accountant; it’s just about knowing enough not to get fooled or fool yourself.

It takes more than raw materials and shop workers to manufacture products. Factories need power, supplies and employees whose functions are essential to the operation even though they aren't part of ...

Overhead allocation is a source of great disagreement in our industry. Should the allocation be based on job price? On job cost? Per project? Or per field man-hour. We understand the pros and cons of ...

The most common mistake is allocating overhead as a percentage of job cost. This practice is so universal that we rarely meet a contractor who veers from it. For example, assume a painting contractor ...