Construction and Contracting

Snyder Cohn Understands How to Build—and Keep—Relationships

Construction companies and contractors have their own unique set of business requirements and challenges—now more than ever. They need an accounting firm with specialized expertise to help optimize cash flow, reduce tax liabilities and finance projects.

Snyder Cohn understands key trends and challenges that are impacting construction firms, including:

• An increasingly popular contract model is the guaranteed maximum price contract which limits the owner’s exposure and leverages the contractor’s or construction company’s expertise to accurately estimate and manage project costs. In turn, this type of contract requires companies to hire or otherwise acquire excellent project management skills.
• Given economic uncertainties, an effective and ever more common risk management technique is to add staff and lease equipment on a per-project basis. Again this requires accurate forecasting of revenues and costs as well as excellent project management expertise.
• Environmentally friendly (also known as “green”) building and construction materials and practices are showing increased demand. As a result, companies must adapt to and incorporate numerous certifications.