For courses in construction accounting.

The market's most in-depth coverage of construction accounting and finance

Construction Accounting and Financial Management covers all the key accounting and financial management principles needed by construction managers. Students explore financial management, construction accounting systems, tools for making financial decisions, and how to manage costs, profits and cash flows.

The 4th Edition includes new sections on topics such as cost segregation, the design-build process, and pertinent provisions of The Tax Cuts and Jobs Act passed in December 2017.

Hallmark features of this title

Thorough coverage of construction accounting and finance

• A central location for construction accounting and finance information cuts the need to search multiple texts or to integrate disconnected concepts and techniques.
• Readers come away with actionable insights, based on proven accounting principles, for improving the profitability and cash flow of construction projects and companies.

Hands-on practice

• More than 260 practice problems, 190 example problems and 120 discussion questions at the end of chapters encourage students to think critically about construction accounting and finance.
• The text has 25 sidebars prompting students to use Microsoft^® Excel^™ to solve complex construction accounting and finance problems.

New and updated features of this title

Technical processes and applications

• NEW: Provisions of The Tax Cuts and Jobs Act affecting tax liability for construction companies are described in the new edition. Topics include bonus depreciation (Ch. 5), income taxes (Ch. 14) and the effects of income taxes on decisions (Ch. 18).
• NEW: A new section on cost segregation of real property (Ch. 5) explains how to separate out the cost for building owners, allowing construction managers to add value for clients.
• NEW: New sections on managing the design-build pre-construction process and the monitoring and controlling process appear in Chapter 7.
• NEW: Current industry information on business failure rates (Ch. 1) and wages, social security and Medicare costs (Ch. 8, 9 and 14) keeps the material current.

Cash flow applications

• NEW: A weekly cash flow problem has been added to give students practice adapting the techniques for preparing a monthly cash flow to a problem requiring a weekly cash flow.
• EXPANDED: Content on the use of project cash flows to develop an annual cash flow for a construction company (Ch. 14) has been expanded to cover the entire project, giving readers a more holistic view of the process.