Construction Business Owner Magazine
WEBConstruction Business Owner (CBO) is the leading business magazine for contractors and is designed to help owners of construction firms run successful businesses. CBO provides real-world business management education.
Understand Your Trailer GVWR (Gross Vehicle Weight Rating)
WEBNov 2, 2011 · While the GVWR is rated at 14,600 pounds, the GAWR or Gross Axle Weight Rating is still only 12,000 pounds and you cannot exceed that capacity rating. In this case, you still have to include the 2,600-pound trailer weight. That weight must be transferred to the tow vehicle, but that transfer is also limited by the hitch capacity.
How the Additional Insured Clause Puts Contractors at Increased …
WEBNov 2, 2011 · The following risk management protocols are recommended: Update all subcontracts and purchase orders to reflect these changes in additional insured endorsements. Many endorsements "follow" the subcontract requirements. Additional insured coverage will "mirror" the contract. Be specific on what is required.
A Contractor's Guide to OCIPs - Construction Business Owner …
WEBMay 24, 2012 · Mike Hastings is a national project risk practice leader within Marsh’s U.S. Construction Practice. Over the past 17 years, he has taken a lead role in developing and implementing Marsh’s consultative approach to construction project risk management, including risk identification, financial modeling, loss control and mitigation, insurance …
How to Read Your Financials - Costs in excess of billings
WEBNov 2, 2011 · Working capital is defined as the total of "current assets" comprised of your cash, receivables, retainages, costs in excess of billings, work-in-progress, inventories and prepaid expenses minus your current liabilities. Your current liabilities are comprised of your lines of credit, principle payments of debt due within twelve months, accounts ...
6 Ways to Demonstrate a Commitment to Safety
WEBApr 25, 2022 · An extra set of eyes on new employees can also ensure proper education to prevent accidents before they happen. On-the-ground mentors act as a safety resource especially for the younger generation of trade professionals to minimize risk and increase efficiency. 6. Never Stop Learning.
20 Female Leaders in Construction You Need to Know
WEBNov 11, 2019 · This industry is changing. For some, that truth is hard to stomach. But others are leaning in, no holds barred. The construction leaders of tomorrow are welcoming tech adoption, alternative methods for project delivery, and other changes with open arms. They’re also looking to a labor force that has historically been underrepresented as a …
To Report or Not to Report: Basics of 1099s
WEBOct 25, 2012 · Form 1099-MISC is used to report payments made to vendors that provide services to a business. In that statement alone there are some keys to what needs to be reported including: (1) “To a Business.”. First, the payments need to be made in a business, so you don’t have to prepare a 1099-MISC for the guy who cuts your home lawn!
The Most Common Types of Construction Fraud
WEBNov 2, 2011 · Falsifying Payment Applications. False pay applications account for more than half of construction frauds. These applications can happen several ways- through erroneous totals or line items, roll-forward errors, false invoices or inflated rates in the supporting invoices that do not reflect the actual costs incurred.
Construction Financial Ratios - Construction Business Owner …
WEBNov 2, 2011 · Use financial ratios and key performance indicators to track progress. Knowing your numbers is crucial to being a successful business owner. Financial ratios and key performance indicators (KPIs), which are a measure of employee performance, can be used to gauge your company's overall financial health and make informed business …
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