April 2024

The Importance of Working Capital in the Construction Industry

Working capital plays a vital role in the financial health and operational success of construction companies. Effective management of working capital enables you to manage cash flow, meet contractual obligations, mitigate risks, and pursue growth opportunities in a dynamic and competitive industry. This article explores the topic of working capital and highlights the top reasons why it is a crucial metric that requires constant monitoring and maintenance.

Construction Companies Can Manage Their Workers’ Comp Costs

Increasing costs of workers' compensation insurance pose a significant challenge for businesses in the construction industry. The financial strain can be daunting, impacting profitability and cash flow. However, several strategies can help combat these escalating expenses. Learn how to mitigate these expenses in this article.

The Essentials of a Subcontractor Prequalification Process

General contractors in the construction industry often encounter various risks, with subcontractor default being a significant concern. One effective strategy to minimize subcontractor risks is by establishing a thorough prequalification process. This article will delve into the importance of prequalification and provide insights on how you can effectively implement this process to safeguard your projects and reputation.

Four Things Contractors Should Know About Smart Buildings

In today's construction industry, there is a growing trend towards the development of "smart" buildings. These innovative projects present exciting opportunities for construction companies, but they also come with unique challenges that need to be navigated. Here are four key things to keep in mind when working on smart buildings.

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About Dannible & McKee, LLP

Dannible & McKee, LLP has been providing audit, tax, accounting and financial management consulting services to clients nationwide since 1978. We are highly respected among construction leaders and maintain active involvement with our construction clients and the many organizations affecting their businesses. We stand out from our competition by conducting one-on-one, year-end planning meetings to review your operations and plan for income taxes, banking and bonding concerns. Our comprehensive familiarity with all aspects of construction allows us to help you in business planning and long-term goals, while also resolving your daily operational needs to maximize cash flow.

OFFICE LOCATIONS:

DM Financial Plaza, 221 South Warren Street, Syracuse, NY 13202

213 North Street, Suite 101, Auburn, NY 13021

200 Harborside Drive, Suite 201, Schenectady, NY 12305

220 Stage Road, Vestal, NY 13850

3001 N. Rocky Point Drive, Suite 214, Tampa, FL 33607

To learn more about Dannible & McKee, visit us at www.dmcpas.com.