Author name: James Hill

UK Construction Building Material Prices & Costs: Update 2024

Material Price Indices and Inflation Trends Essential to knowing where prices are headed and managing cash flow in construction lies in the Material Price Indices. Let’s break down the main categories: Aggregates Think gravel, sand, and bitumen. These materials form the foundation of many construction projects, from roads to buildings. Fluctuations in the prices of […]

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Revenue Recognition in Construction: Monitoring Financial Health

Revenue recognition is essential for interpreting and reporting the financial vitality of a construction company. Let’s delve deep into how this fundamental accounting principle not only affects contractors’ cash flows but also influences their business decisions, tax liabilities, and income statements’ accuracy. Understanding Revenue Recognition Imagine a scenario where a contractor receives an advance payment

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Percentage of Completion Method in Construction Accounting

Managing financials in the construction realm, particularly for long-term projects, poses quite a unique set of challenges. One widely embraced solution in the industry is the percentage of completion method, a cornerstone of construction accounting. Let’s dive into its mechanics, applications, and a sprinkle of real-life scenarios. Understanding the Percentage of Completion Method What exactly

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General Conditions in Construction: A Guide for Contractors

In the world of construction, general conditions are akin to the conductor of an orchestra. They set the rhythm, ensure all instruments (or project components) are synchronized, and make sure the musical (project) performance is a success. From project management to waste removal, these conditions not only direct the indirect costs but shape the entire

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Cement Rendering: Pros and Cons

Introduction to Cement Rendering Building contractors frequently recommend cement rendering due to its ability to deliver both durability and visual appeal to a building’s interiors and exteriors. In this detailed guide, we explore the ins and outs of cement rendering, from its advantages and application techniques to maintenance advice. What is Cement Rendering? Cement rendering

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Brexit and International Property Buyers in the UK

When the UK elected to separate from the European Union—a move popularly known as Brexit—it triggered substantial effects across the globe, particularly altering aspects of trade, migration, and economic frameworks. One such area dramatically impacted is the UK’s property market, especially regarding international investors. For years, these investors viewed the UK as a prime destination

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Unpacking the Role of Finance Managers in Construction

Ever wondered who manages the purse strings in a construction project? It’s a complex dance of numbers and forecasts, uniquely challenging and distinctly different from other sectors. Let’s dive into the financial whizzes behind the construction scenes: the finance managers and project managers. Construction Finance Manager: Champions at the Helm The Construction Finance Manager (CFM)

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