Before the company's year end, we helped negotiate new financing terms with its lender. The new terms improved the company's cash flow and working capital position. We also were able to help implement other changes that improved the contractor's financial position.
We then worked closely with the company to identify what types of contracts and customers were most profitable. We used this analysis to help the company in its negotiations with the surety and in explaining why increased bonding capacity would enhance the company's bottom line.
The result: increased bonding capacity and the ability to obtain more profitable contracts.Your relationships with sureties and lenders are critical. These users of financial statements demand more predictive information to help with decision making and require more comprehensive reports on performance.
BKD's can objectively evaluate the presentation of your financial statements and recommend changes for presentations to financing and bonding sources. In addition, your financial statements can be used internally by management to track results and measure performance. Financial statements also can provide useful and accurate data to your costing and engineering departments.
Our accounting and auditing solutions include:- Conduct audits, reviews and compilations to provide financial accountability and creditability to lenders, bonding agents and state regulatory agencies
- Analyze lease vs. buy decisions
- Help you select the proper accounting method
- Help train your accounting personnel
- Provide bookkeeping and internal accounting services on an outsourcing basis
- Compile budgets and forecasted financial statements
- Design and implement job cost-accounting systems
- Assist in determining key performance indicators and developing appropriate monitoring systems
