Financial Management Resources
Learn from experts in accounting, bidding, estimating, financing, and contracts. Grow your business with a solid understanding of construction finance and cash flow.
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The Basics of Construction Financial Management
Construction financial management involves strategic planning, organizing, directing, and controlling of financial resources to manage the financial performance of a construction project or company. Because construction is a complex, high-risk, project-based field, financial management involves a wide range of skills and roles.
From estimating and bidding to contract formation and accounting systems, construction finance professionals are responsible for guiding a construction business toward growth.
Financial management in construction involves a variety of activities, including:
- Budgeting
- Accounting
- Invoicing
- Collections
- Contract administration
- Cost control
- Estimating
- Cash flow management
Learn with a deep dive into the roles and responsibilities of a construction finance manager.
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Introduction to Construction Accounting
Construction companies have to make difficult choices among many financial alternatives, like bidding on one project over another, selecting financing for materials or equipment,
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Contractor Financing: The Complete Guide
The financial success of a construction business depends largely on its ability to manage cash flow. Throughout a project, contractors face a significant outlay
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Cost Reporting in Construction: Tracking a Project’s Financial Health
Knowing a construction project’s financial health can decide its success in an industry where projects are complex and budgets are tight. One of the
Accounting
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Introduction to Construction Accounting
Construction companies have to make difficult choices among many financial...
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Job Costing in Construction: A Blueprint for Tracking Project Costs
Job costing is the process of tracking costs and allocating...
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The Percentage of Completion Method Explained
The Percentage of Completion (POC) accounting method is often used...
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Revenue Recognition in Construction: Accurately Monitoring Financial Health
Revenue recognition is an accounting principle that refers to how...
Contract Management
Managing and administering construction contracts requires a thorough understanding of contract types, common clauses and the variety of documents included in the agreement.
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The 5 Key Types of Construction Contracts
There are five common types of construction contracts: lump sum...
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General Conditions in Construction: A Contractor’s Guide
In construction, general conditions refer to a variety of operations,...
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Successfully Navigating Change Management in Construction
Change management in construction refers to any alteration to the...
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6 Construction Project Delivery Methods Compared
Construction project delivery methods help determine the way that stakeholders...
Invoicing & Payment
The construction invoicing process is unique, often requiring a variety of supporting documents to support the payment application. Owners and contractors alike need to understand their responsibilities and requirements for successful invoice submission, review and approval.
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A Contractor’s Guide to Construction Invoicing
Invoicing in construction is complex. Unlike most retail companies that...
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Construction Payment Applications: A Guide for Contractors
For general contractors, getting paid requires much more than just...
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Guide to Progress Payments on Construction Projects
There are lots of ways to bill for work on...
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Underbilling in Construction: How to Capture Missing Revenue & Protect Cash Flow
Effective money management in construction projects is as essential as...
Budgeting & Cost Control
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Managing a Construction Budget: Keys to Successful Project Delivery
In construction, where every penny counts and the unexpected is...
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Construction Cost Codes: Best Practices and Industry Insights
Construction cost codes are unique identifiers that allow companies to...
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Construction Cost Estimating: A Step-By-Step Guide
Construction estimating is the process of calculating all of the...
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Cost Breakdown Structure: Enhancing Financial Clarity in Construction
General contractors must closely monitor project costs across various categories,...
Cash Flow
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How to Manage Cash Flow Throughout the Construction Lifecycle
Navigating the financial ebbs and flows of construction projects demands...
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Construction Cash Flow Projection: A Deep Dive into Financial Forecasting
Cash flow projection is instrumental in evaluating a project’s financial...
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A Contractor’s Guide to Working Capital: Managing & Measuring Liquidity
Effective evaluation and management of working capital is a critical...
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Types of Capital for Construction Businesses
Construction companies need capital to get off the ground, stay...