Running a successful construction business takes more than good tools and hard work. It requires the assistance of professionals who know the industry and can help you operate more efficiently and successfully.
For decades, Yount, Hyde & Barbour has been providing tax, accounting, auditing and consulting services that help contractors and developers do exactly that. Because construction and real estate are a main focus of our firm, we’ve developed great expertise in anticipating and meeting the needs of businesses like yours. We’ve also built strong relationships with bankers, sureties and other professionals who can help you get what it takes to do job one: make a profit.
To stay on top of industry trends and issues, we are active members of the Construction Financial Management Association, Associated General Contractors, Associated Builders and Contractors, the Construction Industry CPAs/Consultants Association and local chapters of the National Association of Homebuilders. We are also continually refining our technical knowledge by participating in various training and continuing professional education programs.
As a result, YHB is ready to help you build your success with services that include:
- Audits, reviews, and compilations, including Federal Acquisition Rate (FAR) audits
- Tax planning and filing
- Historic Property Rehabilitation Tax Credits
- Energy-Efficiency Tax Credits
- Strategic Planning, business valuation, and M&A assistance
- Succession and estate planning
- Cost-segregation studies and fixed-asset depreciation records
- Selecting the best organizational structure and accounting method
- Bonding and surety analysis, and operational reviews
- Payroll tax services and employee benefit plans
- Risk management and litigation support
- Computer hardware and accounting software selection
Monitoring services allow you to understand how your company compares to others in your industry, how this year compares to last year, and how third party users, like banks and bonding companies, interpret your statements. Monitoring services include:
- Trend analysis and benchmarking
- Contract schedule design, reconciliation, and analysis
- Financial statement interpretation and analysis
- Management meetings to communicate and implement recommendations
Advisory services are designed to maximize your financial and tax positions. Management snapshots help you negotiate the vast amounts of information generated by today’s technology. Social media posts and monthly newsletters keep you connected. Advisory services include:
- Tax reduction and deferral
- Financial management including cash flow analysis, budgeting, and projections
- Project management insights through performance and job analysis
- Equipment management advice through depreciation strategies, costing and allocation
- Accounting system and software assessment, design, and monitoring
- Debt analysis and negotiation
- Inventory management
- Bond enhancement
Contact us when you’re ready to build profits
CERTIFIED CONSTRUCTION INDUSTRY FINANCIAL PROFESSIONALS
Professionals with the skills and knowledge to help you grow confidently.
The Certified Construction Industry Financial Professional (CCIFP®) designation is the only certification for construction financial professionals and is accredited by the American National Standards Institute (ANSI) under ISO 17024:2012. The ICCIFP provides the construction industry with a third-party verification of an individual’s knowledge, which is essential to ethical financial management in today’s complex construction industry.
Many public accounting firms have construction clients, but construction may not be a major practice area. The firms that have CCIFPs on staff have demonstrated commitment to the industry and competence in construction financial management.
Public accounting professionals with the CCIFP® designation must have a minimum 4,000 hours professional experience in construction in addition to showing expertise in eight knowledge domains, and only two of the knowledge domains are accounting related:
Accounting and reporting
Income recognition methods
Budgeting and planning