Construction Accounting and Financial Management (Hardcover)

This book takes general business accounting and financial principles as well as engineering economics and adapts them to the unique characteristics of the construction industry. It provides all of the key financial management principles needed by construction managers under one cover, addressing how they are applied in the construction industry and how they interact. To get similar material students would have to purchase accounting, finance, and engineering economics books—and they still would not have all the information needed to know how these disciplines specifically relate to the construction industry. This book teaches students how to account for the companys financial resources, how to manage the costs and profits of a construction company, how to manage the companys cash flows, how to evaluate different sources of funding a companys cash needs, and how to quantitatively analyze financial decisions. To assist instructors in teaching these materials the book includes over 180 example problems, over 270 practice problems, and an Instructor's Manual and Disk with complete solutions to the practice problems and sample test problems.

Focusing on the principles of accounting and financial management needed to make construction projects and companies financially successful, Construction Accounting and Financial Management provides the background for prospective and practicing construction managers. Making no assumptions about any special training, Professor Peterson leads the reader step by step through the business practices needed for solid decision making. All applications are related to the construction field.

• Determining the profitability of different construction activities, project types, and potential customers, allowing managers to focus on the best aspects of their business.
• Projecting costs from the first subcontract and purchase order as well as potential cost overruns so they can be quickly addressed.
• Projecting cash flow and cash requirements so managers can adjust business practices to avoid cash shortages.
• Tracking and accounting for heavy equipment costs, allowing managers to fairly charge them to the project and to determine the profitability of equipment use.

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