Every business leader should probably have at least a rudimentary understanding of accounting. It’s not about becoming an accountant; it’s just about knowing enough not to get fooled or fool yourself.

When calculating the costs that go into a job, you can easily name off the direct costs, such as labor and materials, but capturing the direct costs is only part of the picture. Full job costing ...

Overhead allocation in construction is a way to share costs across multiple jobs. Why on earth would you do that? Simple: these are the costs your projects share responsibility for anyway — they’re ...

For Android or Apple platforms Relies on banking information, regression analysis, and an accurate yearly overhead budget Produces both labor/equipment and material/subcontract rates For Android or ...

Overhead allocation is a source of great disagreement in our industry. Should the allocation be based on job price? On job cost? Per project? Or per field man-hour. We understand the pros and cons of ...

If you buy $10,000 worth of raw materials to make 1,000 items, it's easy to see you spent $10 on raw materials per widget. Allocating how much management salaries, utilities or rent you spent on each ...

We lost a little bit, but the job still made money.” As a construction business owner, you know that “making money” at the project level does not necessarily equate to a profit on the project after ...

There are many costs associated with running a business, but all of those costs don’t fall into the same bucket. One type is overhead costs, which are expenses not tied directly to the production of a ...

Get free guidance and exclusive deals to grow your business with business.com+ Business News Daily provides resources, advice and product reviews to drive business growth. Our mission is to equip ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...