Authors: Matt McDonald, CPA/CFF, CFE and Brett Sinsabaugh, CPA
Matt and Brett discuss the importance of surety bonds in the construction industry and the necessity of precise financial statements for effective bonding.
“Surety bonds are arguably one of the most important aspects of a construction business. Without these bonds, contractors are unable to make bids, secure new business or continue work on projects. While the construction companies know the value surety bonds have, they often make broad guesses regarding assurance, which could negatively impact them financially.”
Read the full article, “Precise financial statements are the key to effective bonding.”
For more information regarding financial statement preparation, presentations, and supplementary schedules, please contact a Business Assurance and Advisory member of the Keiter Real Estate and Construction Industry team. firstname.lastname@example.org | 804.747.0000
The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.