December 12, 2023
Assurance Partner Robert Mercado writes on the importance of WIP schedule accuracy in his latest article for Construction Business Owner
Construction Business Owner
By Robert Mercado, Partner, Assurance Services
Excerpt:
A contractor’s work-in-progress (WIP) schedule is used by the company’s accounting department to vet the trajectory of each construction project. When the WIP schedule is accurate and updated, contractors can foresee and possibly prevent potential issues from occurring. Key indicators to scrutinize on any project included in the WIP schedule are underbillings and overbillings, cash flow and gross profit.
