Construction Accounting Services
Contractors, Engineers and Architects
Real world experience is the vital factor that distinguishes experts from mere practitioners in serving these specialized closely-related industry segments. From start-up advice for new ventures to succession planning for mature companies, we have a deep bench of advisors. We know that contractors, engineers and architects represent a unique commercial group, one that we’ve dedicated ourselves to understanding and supporting. Our practice with this client group is founded upon a deep level of appreciation: we develop close relationships with our clients’ principals and strive to put ourselves in their place so as to provide the best possible advice and service.We take it as a given that we’ll help clients account for their projects and overhead so as to maximize cash flows and minimize tax. It’s the extra value that we seek. Besides “typical” services, we provide comprehensive short and long term planning and coordination for our clients. Our knowledge and involvement in your specialty area distinguishes our work from all the others. Our team includes a growing number of CPAs who have achieved the CCIFP designation (Certified Construction Industry Financial Professional). We host annual conferences targeted at your industry segments and many of our associates speak at related national events. Regardless of your company’s size or maturity, Brown Edwards’ focused knowledge of best practices in this industry group can help guide you through your financial and operational challenges. We invite you to read below and learn more about our practice offerings to contractors, engineers and architects.
- Sophisticated tax assistance with R&D credits, 179D deductions, DPAD and other uncommon issues
- Federal Acquisition Regulation (FAR) audits and related consulting
- Assistance with component depreciation for internally-constructed facilities
- Project costing, including guidance with equipment and indirect allocation systems
- Support with financing proposals and alternative capital needs
- Annual tax planning to maximize savings for the business and its owner group as a whole
- Bonding and prequalification capacity enhancement
- Litigation claims support, including Eichleay Formula assistance for delay claims
- Complex sales tax assistance and related agency audit support
- Contractor licensing, prequalification and DBE submittals
- Employee benefit planning and administration
- Payroll processing and related quarterly and year-end statutory reporting assistance
- Valuations for all purposes: M&A proposals, loss damages, buy-sells, insurance needs, ESOPs, etc.
- Succession and estate planning on a coordinated basis
- Wealth management
- Merger and acquisition consulting, including due diligence assistance
- Benchmarking and industry comparison analysis
- IT consulting, including industry-specific software selection and conversion assistance
- Cybersecurity evaluation and forensics
Brown Edwards Leads the Way in CCIFP Professionals
Our Certified Construction Industry Financial Professionals (CCIFPs) can help you navigate the complex revenue recognition rules and job cost accounting methods of the construction industry
Construction has complex revenue recognition rules and job cost accounting methods. Many firms have construction clients, but they have not dedicated the resources necessary to make construction a major practice area. The firms with CCIFP public accounting certification for the construction industry have demonstrated commitment to the industry and proficiency in all areas of construction financial management. With twelve CCIFP certified professionals, Brown Edwards is among the top ten firms in the country regarding CCIFPs on staff.
The Certified Construction Industry Financial Professional (CCIFP®) designation is the only accounting certification for construction financial professionals accredited by the American National Standards Institute (ANSI) under ISO 17024:2012.
Public accounting professionals with the CCIFP certification must have a minimum of 4,000 hours of professional experience in construction in addition to showing expertise in eight knowledge domains, and only three of the knowledge domains are accounting-related:
- Accounting and reporting
- Income recognition methods
- Risk management
- Budgeting and planning
- Human resources
- Information technology
So when you hire a public accountant as a partner for your business, insist on a firm with CCIFP public accounting certification for the construction industry.
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