Customer Reviews

Construction Accounting & Financial Management (2nd Edition)

5 star:		(1)
4 star:		(3)
3 star:		(0)
2 star:		(0)
1 star:		(0)

 

 

If you are in construction, you know that standard accounting practices don't address the issues of subcontracting work, retainage and equipment depreciation that are specific to construction.

This book isn't a tome with dry t-tables, this goes beyond that and addresses earned value management and cost control. For the price of this book, you will get more out of the excel spreadsheet appendix than those expensive software manuals. I would highly recommend this to any construction manager, or small shop owner as a way of learning how to quickly analyze a construction budget and keep costs under control.

This book has been so helpful in my attempt to increase my understanding of the way construction companies manage their accounting books and finances. I'm currently on my second reading and intend to keep this book as a permanent reference.

I would have given this book 5 stars, mainly because this book has been very helpful to me, but I've chosen 4 stars because...

- Exercises were included after each chapter, which is a nice touch, but it would have been nicer if the author had included the answers at the end of the book.

- The CD includes Excel templates, which is also a nice touch, but I honestly thought before buying this book that they were more complex and advanced, maybe including some of the exercises seen on the book.


Other than those (in my opinion, minor) issues, this is an excellent book. I highly recommend it to those people involved in the construction industry.

This textbook styled reference provides a good basis for understanding the elements of a construction based financial system. The explanations are derived from practical application of construction work processes and includes elements of cost engineering and controls that are not found in other "accounting" centric reference material.

I was however very disappointed in the worksheets provided on the CD. They include simple accounting formulas in MS Excel for very basic accounting functions (i.e. interest, depreciation, etc.). It would have been more valuable to include some more practical application of the books contents.

Overall, it is a good reference to have available and provides clear guidance and explanation to virtually all aspects of construction financial management.

Book delivered in good condition with relatively little amount of highlighting (sometimes I like highlighting, it's interesting to see what parts of the text others have keyed in on).