Tag Archives: WIP

April 19, 2009

The Remodeler’s Ponzi scheme!

You might not think the phrase “Ponzi Scheme” applies to your remodeling company – think again! The March 23rd issue of the New Yorker magazine has an interesting article about Ponzi schemes entitled “Madoff and his Models” in which the author discusses 2 historic schemers who turned up client’s up-front money into personal cash.  Towards […]

Job cost accounting
March 13, 2009

GPM variability – is this you?

Click on the link below to see a chart illustrating how gross profit margin can change even after WIP calculations.  Is this you? monthly-gpm-variability-real-life1 Even the best remodelers can end up in a quandary about the truth of their financial statements when gross profit margin slithers all over the map.  Here’s a real life example […]

Job cost accounting