Secret Construction Definitions Unique To High Profit Contractors – “A”

Last Updated on October 3, 2015

This is a guest contribution from Randal DeHart of FastEasyAccounting.com.

I have been involved with construction beginning in the mid 1960’s as a kid working in the family construction company through the present time.

Over the decades I have gathered and documented a comprehensive list of terms that describe construction. Some of them are meant to bring a smile to your face, some are serious and the rest I hope are simply entertaining.

This Article Contains Definitions That Begin With The Letter “A”

80/20 Rule 80% of a contractor’s wealth and well-being comes from 20% of their clients and their daily activities.

24 Hour Bookkeeper also known as a scanner connected to our paperless server; sits in your office quietly, no watering, no feeding, always ready to perform 24-7, never wastes company time surfing the web or chatting or texting on their cell phone.

Apprentice Communication is what happens when apprentices point at something while making deep noises from their chest sound like important messages from their brain all in a feeble attempt to hide the fact they know nothing at all, about anything.

Aggravation Box is a desktop, notebook or tablet computer with construction accounting software operated by a trainee with no clue about accounting let alone construction accounting.

Auction the sad and yet inevitable end of a promising construction company where the upper management and/or owner spent time working in the business, focusing on the wrong stuff and relying on bad financial and job costing reports due to incompetent bookkeeping.

Auditor is the person who goes in after the war is lost, the contractor is bankrupt and bayonets any hope of recovery.

Assets of Construction Company are as follows: Cash, Receivables, Trucks, Tools, Equipment and Material.

Assets of Construction Firm are cash, Business Process, Sales Process, Client List and Predictable Cash Flow. (There is a lot of information if you understand the differences between a company and a firm.)

Please feel free to share them with anyone and especially contractors who need a bit of humor and homespun wisdom and perhaps they will find value.

About The Author:

Randal DeHart, PMP, QPA The Construction Accountant. Randal DeHart, PMP, QPA is the co-founder of Business Consulting And Accounting in Lynnwood Washington and Fast Easy Accounting. He is the leading expert in outsourced construction bookkeeping and accounting services for small construction companies across the USA. He is experienced as a Contractor, Project Management Professional, Construction Accountant, Intuit ProAdvisor, QuickBooks For Contractors Expert and Xero Accounting Specialist and Bill.Com Certified Guru. Visit http://www.fasteasyaccounting.com/ to learn more. Follow Randal on Google+

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