By: Mike Andriola
Is your bottom line understated simply because you don’t have the necessary documentation or lack the accounting insight to allocate job costs to contracts? Or are you paying too much in taxes because you have an overly aggressive cost allocation strategy? If you are in either situation, the lack of a sound job costing strategy is costing you money.
In the construction industry, there are three main types of costs: direct costs, indirect costs, and general and administrative expens... read more.