Join host Eddie Thompson of Brown Edwards & Company as he sits down with fellow CPA and construction specialist Craig Daniels for an engaging shop talk about the Construction Financial Management Association (CFMA) and the construction industry. Craig, a director at Brown Edwards with 13 years of public accounting experience and a Certified Construction Industry Financial Professional (CCIFP), shares his insights from the recent CFMA conference in Las Vegas and discusses his efforts to establish West Virginia's first CFMA chapter.

In this episode, Eddie and Craig dive into the nuances of construction accounting, the importance of CCIFP designations, and practical strategies for maximizing balance sheets for bonding and banking capacity. They explore current trends in the construction industry, discuss succession planning, and share experiences from their work with contractors across West Virginia and surrounding states.

A Business Advisor for the Construction Industry

Our team of Certified Construction Industry Financial Professionals (CCIFPs) can help you navigate the complex revenue recognition rules and job cost accounting methods of the construction industry.

Learn more about Brown Edwards' Construction group.

Tune in to Construct-ive Conversation's 10-part mini-series, where we’re discussing how you can avoid the top ten pitfalls in construction accounting. In each episode, we dive into a pitfall and discuss ways a CCIFP can help implement solutions. Explore the critical role of integrity in construction accounting in this insightful episode. Discover how ethical practices impact stakeholder relationships, learn strategies for maintaining transparency, and understand the long-term consequences of integrity failures. Gain practical guidance on building trust through accountability, ethical financial policies, and proper mistake management—essential knowledge for construction professionals seeking sustainable success in the industry.

A Business Advisor for the Construction Industry

Our team of Certified Construction Industry Financial Professionals (CCIFPs) can help you navigate the complex revenue recognition rules and job cost accounting methods of the construction industry.

Learn more about Brown Edwards' Construction group.

Tune in to Construct-ive Conversation's 10-part mini-series, where we’re discussing how you can avoid the top ten pitfalls in construction accounting. In each episode, we dive into a pitfall and discuss ways a CCIFP can help implement solutions. This episode explores the delicate balance between capability and cost in construction equipment investments. We examine key strategies for maintaining a balanced equipment portfolio, conducting utilization analysis, evaluating lease versus buy options, and developing effective replacement strategies. Learn how Certified Construction Industry Financial Professionals can guide these crucial decisions to enhance operational efficiency while maintaining fiscal responsibility. Discover practical approaches to align your equipment investments with both immediate project needs and long-term business goals.

A Business Advisor for the Construction Industry

Our team of Certified Construction Industry Financial Professionals (CCIFPs) can help you navigate the complex revenue recognition rules and job cost accounting methods of the construction industry.

Learn more about Brown Edwards' Construction group.

In this episode of Construct-ive Conversations, host Eddie Thompson from Brown Edwards welcomes Tina McPhail, Executive Vice President and CFO of Pray Construction. Together, they dive into the limitations of the traditional "low bid" model for public construction projects in West Virginia and explore alternative delivery methods that could provide better value and results. Tina shares her passion for implementing legislative changes to allow design-build approaches already used in surrounding states, highlighting how these collaborative methods can lead to better outcomes, reduced change orders, and more efficient project delivery. Drawing from real examples, this conversation offers valuable insights into the future of construction procurement in West Virginia.

A Business Advisor for the Construction Industry

Our team of Certified Construction Industry Financial Professionals (CCIFPs) can help you navigate the complex revenue recognition rules and job cost accounting methods of the construction industry.

Learn more about Brown Edwards' Construction group.

Tune in to Construct-ive Conversation's 10-part mini-series, where we’re discussing how you can avoid the top ten pitfalls in construction accounting. In each episode, we dive into a pitfall and discuss ways a CCIFP can help implement solutions. In this episode, we explore how a lack of accountability acts as a "silent profit killer and examine how accountability impacts every level of operations, from project execution to financial performance.

A Business Advisor for the Construction Industry

Our team of Certified Construction Industry Financial Professionals (CCIFPs) can help you navigate the complex revenue recognition rules and job cost accounting methods of the construction industry.

Learn more about Brown Edwards' Construction group.

In this episode of Construct-ive Conversations, host Eddie Thompson sits down with Will Clark, a tax director and succession planning expert from the firm's Kingsport, Tennessee office. They discuss the critical aspects of business succession planning, including different exit strategies, tax implications, and the importance of early planning. The conversation offers practical guidance for construction business owners at any stage of their succession planning journey.

A Business Advisor for the Construction Industry

Our team of Certified Construction Industry Financial Professionals (CCIFPs) can help you navigate the complex revenue recognition rules and job cost accounting methods of the construction industry.

Learn more about Brown Edwards' Construction group.

Tune in to Construct-ive Conversation's 10-part mini-series, where we’re discussing how you can avoid the top ten pitfalls in construction accounting. In each episode, we dive into a pitfall and discuss ways a CCIFP can help implement solutions. In this episode, we explore the critical importance of robust reporting systems and financial controls in the construction industry. Discover how proper financial infrastructure can protect your projects and profits, with detailed insights into monthly gain/fade analysis, WIP schedules, and job costing systems. We spotlight the 'segregation of duties' as a key concept in preventing fraud and ensuring accurate financial reporting. Whether you're a seasoned professional or new to construction finance, this episode provides essential knowledge for strengthening your company's financial foundation.

A Business Advisor for the Construction Industry

Our team of Certified Construction Industry Financial Professionals (CCIFPs) can help you navigate the complex revenue recognition rules and job cost accounting methods of the construction industry.

Learn more about Brown Edwards' Construction group.

In this special episode of Construct-ive Conversations, host Eddie Thompson welcomes three accomplished women in construction to celebrate National Women in Construction Week. Guests include Blair Williamson, owner of SL Williamson Company, a third-generation asphalt pavement and road construction company; Betty Howard, owner of Bruce Howard Contracting, specializing in commercial services and excavation; and Carla Brown, Director and CCIFP at Brown Edwards with 19 years of construction industry experience.

The panel discusses their unique journeys in the construction industry, from Blair's transition from architecture to running her family's paving business, to Betty's bold move from finance to founding her own construction company, and Carla's role in supporting contractors through financial challenges. They share insights about overcoming industry challenges, the evolution of opportunities for women in construction, and the importance of mentorship and networking through organizations like NAWIC (National Association of Women in Construction). The conversation highlights how the industry has transformed over the decades, with increasing acceptance and opportunities for women at all levels, while emphasizing the importance of competence, authenticity, and mutual support in achieving success.

A Business Advisor for the Construction Industry

Our team of Certified Construction Industry Financial Professionals (CCIFPs) can help you navigate the complex revenue recognition rules and job cost accounting methods of the construction industry.

Learn more about Brown Edwards' Construction group.