Andrew J Richards FCCA has 30 years experience in Industry and practice dealing with Construction Companies and associated industries.
Ex Group Financial Accountant for a construction PLC Group, Ex General Manager of Two Construction related Companies.
The Construction industry is a very different sector, with financial and management issues peculiar to this industry. Whilst external accountants provide a valuable service, they rarely have the indepth construction industry experience of AJR .
AJR has significant experience in both roles. Financial and General Management within the industry and as an external accountant, and aims to provide a very commercially aware service to this sector.
This can include,
- Contract Work in progress
- Construction industry Scheme
- Project projections, cash flow and profitability
- Management accounts
- Dealing with banks and other providers of finance
- Management of cash flow
- Financial information for tenders.
- Restructuring the balance sheet, where possible.
For more detailed support, look at finance director service offered
With retentions, stage payments and main Contractor / subcontractor relationships, cash flow in particular can be an onerous task within this sector. Construction companies would benefit from regular input from finance and management professional. Controls and management reporting need to be in place from a very early stage. Expansion without control could be disastrous.
Managing risk and exposure is vital in this and supporting industries. A contract could be profitable but the resources needed to fund the contract could be unaffordable. The impact on the business especially from larger than normal contracts must be assessed not just the end profitability.