Current assets are those that will be converted to cash within one year. These assets include cash held in checking accounts, money market accounts, certificates of deposit, salable inventory and accounts receivable.
The construction industry faces economic challenges, including inflation, interest rates, and supply chain issues, requiring firms to adopt strategic financial planning. By managing cash flow, securing financing, and monitoring economic indicators, construction businesses can adapt to volatility and position for future growth.
Read MoreA well-structured Chart of Accounts is crucial for construction companies. This guide covers best practices, including categorization of costs, job costing integration, retainage, and WIP accounts. Streamline financial reporting, enhance project management, and maintain compliance with industry standards.
Read MoreThis is RedHammer's comprehensive guide to successful construction software implementation. It covers best practices, common pitfalls, and software recommendations tailored to companies of all sizes. With expert insights, this guide helps construction businesses optimize processes, ensure smooth transitions, and achieve long-term success.
Read MoreAvoid the 10 most common software implementation mistakes, from underestimating complexity to insufficient planning and poor change management. This guide provides practical solutions to ensure your project is completed on time, within budget, and fully utilized.
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