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It is common to confuse Notes Payable (N/P) with another liability, Accounts Payable (A/P), but they are fundamentally different. If the note is zero-interest bearing, the present value tables have to come into play. AP is more than a set…

He is a CFA charterholder as well as holding FINRA Series 7, 55 & 63 licenses. He currently researches and teaches economic sociology and the social studies of finance at the Hebrew University in Jerusalem. AR management is important because…

Construction companies must now wear the hats of diligent auditors, scrutinizing contracts, redefining accounting policies, and ensuring a smooth transition aligned with ASC 606. Further, this framework can reshape perceptions on variable considerations, warranties, and more. A business with a…

For contractors, having robust bookkeeping practices helps maintain profitability and control over each project. The cash method of accounting for contractors is a system that records all cash transactions when they occur. This method is often used in construction accounting…

Understanding these methods is essential for effective financial planning and operational success in the construction industry. At NorthStar Bookkeeping, we help construction firms develop clear accounting processes that fit the industry’s demands. With years of experience in construction bookkeeping, our…