Construction industry Accountants
Construction is your specialty. Building your success is ours.
We are a construction accounting and financial management firm. Since 1983, Burzenski & Company has been skillfully providing financial management and tax planning services for a wide range of construction companies including general contractors, subcontractors, developers, real estate agents and home builders. Our customized and personal approach to guiding construction companies has earned us a respected reputation.
As specialists in the construction industry, we have a unique understanding of practice business strategies, tax and accounting services, operational management, financial forecasting and personalized management services for construction companies.
Here is a link to an article written by
Karen P. Kolb, MFA and Ralph Ricciardelli, CPA, for the
Connecticut Construction Industries Association CONNstruction magazine, entitled
Business Strategies+Planning=Success:
https://www.nxtbook.com/naylor/CTCQ/CTCQ0316/index.php?startid=26#/p/26
Financial Statements
Documenting the foundation for your essential business decisions.
Timely, reliable and understandable financial statements are necessary to gauge how well your construction business has performed and to assess the strength of your financial position. These financial statements are the foundation for important business decisions and a vital measure of performance. Our financial statement services go beyond checking math. Throughout the process, we become familiar with your business so we can provide valuable information for use in your daily management decisions. This data can improve your profitability and ensure you receive value beyond “traditional” reports and financial statements. Our carefully prepared financial statements allows you to easily compare your financial position from year to year, quarter to quarter, or month to month. We have considerable experience preparing financial statements in accordance with Generally Accepted Accounting Principles for construction companies. Our financial statement services include compiled financial statements, reviewed financial statements and audited financial statements.
Job Costing and Bonding Analysis
Providing you with financial confidence that secures new work.
The construction world is complex. A construction job requires developing and monitoring job cost estimates. Missteps in the early stages of the job costing process can create costly mistakes. We have assisted construction company owners through the maze of complexities associated with job costing and bonding/credit analysis. Our cost estimating experience helps you understand the costs incurred to date and generate reports to help you determine the true profitability of the construction job. We work closely with construction companies to ensure their business goals are attained, favorable bonding and financing is secure and cash flow is maximized. We understand the financial ratios a bonding company requires. We prepare the financial statements in a construction industry perspective and assist with strengthening your bonding company relationship.
Tax Services
Paying the appropriate amount of taxes is your responsibility ... tax planning to minimize your obligation is ours.
We keep our construction tax accounting clients informed of the latest tax developments which affect their personal and business interests. We assist clients with interpreting the implications of complex rules and regulations and work closely to determine their best course of action. Our clients are able to receive ongoing strategic tax planning and advice for every aspect of their personal and business life. Our services include tax planning strategies for the sale, acquisition or merger of businesses, compliance with sales and use tax regulations, personal tax planning, preparation of returns for individuals, business owners and executives, tax planning and preparation for trusts and estates, and the analysis of proposed investments for tax and economic consequences.
Financial Services
How we support you and maximize your company's financial position.
We have a unique understanding of business strategies, financial results review and industry benchmarking affecting construction companies. Our experienced team of professionals provides insight to maximize the company's financial position and efficient operations. With unique qualifications to guide construction companies in all areas of business, we offer a wide array of services including job costing and budgeting, financial statement presentation, expertise in increasing bonding capacity, financial performance review, management information systems analysis, short and long-term goal setting, human resource needs assistance, buy/sell agreements, internal control reviews, tax planning, and retirement and succession planning.
Benchmarking
Obtaining comparative data to give you the industry insight you need to succeed.
Our expertise in construction benchmarking can assist you with your goal setting and strategies. This geographic data provides statistical data to help identify both potential risks and opportunities to move your construction company forward with confidence. With unique qualifications to guide your company in all areas of business, we offer construction industry benchmarking services such as internal and external benchmarking including competitive benchmarking and best-in-class benchmarking, data driven insights and guidance on improving competitive edge.
Technology Consulting
Providing technology advice to ensure your computer systems operate efficiently.
From startups to longstanding construction companies, our firm has a unique understanding of the construction industry in the area of technology. We can provide insight to maximize your financial position and operate efficiently and help determine the most reliable and cost-efficient ways for your computer systems to operate. We can perform an assessment of your current technology environment and prepare a detailed plan to identify the best plans and/or information technology systems for your company based on budget, goals and commitments. Our construction technology consulting services includes technology assessments, planning, selection, and the implementation of computer systems and project management.
Business Valuation & Transition
Life has ups and downs. We counsel you through your business transition.
Business valuation and transition is a complex process. It requires judgment, confidence, expertise and financial competence – all trademarks of our firm.Our valuations are tailored to the specific needs of the business and rely on the experience, skill and sound judgment of our seasoned professionals to meet a variety of needs for both buyers and sellers. Well-versed in all three major categories of valuation: asset-based, earnings-based and market-based, we will properly identify key factors and advise clients regarding the best valuation approach to choose. Our staff can help determine the value of tangible and intangible assets held by construction companies and their owners to provide an accurate valuation of the business.
When working with sellers, we can walk construction company owners through the sale process, assisting in every step of the way, by working through sale negotiations and developing contract terms that get sellers to the finish line.
With buyers, we review seller offers, analyze cash flow and determine counter offers, if required. We assist with purchase negotiations and help you work through financing options.
Our business valuation & business services include assistance with the purchase or sale of a business, buy-ins and the development of buy/sell agreements between principals, assembling credentials to obtain financing, preparing estate and gift tax values, partnership buy-out and shareholder dissent, succession planning and divorce and tax planning.
Preparation of Business Plan
We help guide your business to financial success.
A carefully crafted business plan is the roadmap for a fiscally sound construction company. From startup assistance to transition services, we have expertise in the preparation of business plans, customized to the individual construction industry. Our experienced construction accounting team can provide insight to maximize your financial position and efficient operations. We prepare business plans to help your company determine its most reliable and cost-efficient financial route in the present, with three-to-five-year projections. We conduct research, assess your company’s strengths and weakness for success, study the competition and prepare a detailed strategic plan that identifies the best roadmap for your company based upon resources and abilities. Offer business planning services include business plan development and assessments, tactical guidance, business valuation and buy/sell reviews.
Management Consulting
Our goal is to keep you on track with your business visions.
Demands on construction companies has grown substantially over the years, particularly with the advent of emerging technology as well as the complexity and frequency of laws that change or affect business operations. Our construction management expertise, substantial knowledge-base, experience and in-depth research capabilities enable us to provide clients with detailed construction financial management services. Our management services include internal accounting controls, inventory control, credit & collection, statistical analysis with industry comparisons, review of operations, technology consulting, cost segregation studies, buy/sell agreements, and the preparation of business plans and lender presentations.
Accounting & Financial Consulting
Knowing your clientele is your responsibility. Understanding your business is ours.
The scope of our construction accounting services extends beyond the traditional compilation of financial statements and management reports. We provide solutions for our construction clients to reduce their expenses, maximize their efficiencies and develop strategies to improve their business operations. Whether you are a general contractor, subcontractor, electrician, plumber, asphalt and paving contractor, home builder or other construction-related firm, we have the construction accounting expertise to help you and your business. We work closely with contractors and real estate professionals to compile financial information and provide a diverse range of services to help build a solid foundation for your business. We strive to improve internal financial reporting, select and implement general ledger and financial statement software, compile financial statement and provide industry benchmarking, cost segregation studies and litigation support.
Financial Budgets, Forecasts & Projecting
Providing sound insight is our responsibility.
Forecasting is a natural element of our work. The Burzenski & Company team is well-qualified to address your complete financial goals and plans. We begin the financial forecasting and projecting process by understanding your unique long and/or short-term goals and needs. We perform a thorough analysis of your financial situation and provide comprehensive construction financial management recommendations and projections as well as financial goals and objectives. In completing nine-month accounting results for construction industry clients, we project fourth-quarter profitability for tax planning and suggest solutions to minimize tax burdens and help plan for cash requirements at tax time. Long range forecasts are an equally regular part of our services.
Whether you are planning to start or expand a construction-related business, we can assist in the process. When you need to determine financial requirements as a start-up firm or need more efficient planning and cash flow forecasting and budget planning as an established firm, we will work to help solve your complex problems and meet your financial goals. We can prepare a full history for the business and owners, assemble all required bank documentation such as a detailed project description and financial forecasts that substantiate the project’s feasibility. We will develop a comprehensive plan that explores possible scenarios and help you build and maintain wealth and achieve personal and business financial goals. Our financial forecasting & projecting services include budget planning, start-ups, facility expansion & renovation, tax planning, and cash flow analysis.
Bookkeeping - Virtual Office Support
Timely and secure bookkeeping services to improve your bottom line.
For those using QuickBooks for their bookkeeping needs, Burzenski & Company, PC will provide your construction business with up-to-date and complete financial information to allow you to make informed management decisions. These collaborative service offerings are secure and can be customized to suit your needs.
While you’re busy running your business, we’ll provide monitored construction bookkeeping services through a hosted QuickBooks® solution accessed through the Internet. With our expertise and guidance, construction business owners and their staff can access timely and accurate financial information needed to improve operations and increase profitability. Through a secure online platform, our staff can access your QuickBooks® files to provide monthly transaction input, data review and financial statements. This allows us to maintain a pulse on your construction business. Our services free you from many complex accounting tasks and allow you to spend more time managing your construction business. You will be able to log on to your QuickBooks® files anytime and anywhere. This will provide you with instant access to your files, which will always be up-to-date, secure and backed up.
Learn more about our Bookkeeping - Virtual Office Support & Technology Services:
Wealth Management
Say yes to your financial future.
The construction financial planning team at Burzenski & Company is well-qualified to address your complete financial goals and plans. We begin the financial planning process by identifying each construction client’s unique goals and needs, whether long or short-term. We perform a thorough analysis of your financial situation and provide comprehensive recommendations and projections as well as financial goals and objectives. We work with our construction clients and guide them to address specific interests or events such as cash flow, educational planning for a small child, buying a home, retirement or investments. Our financial planning services include portfolio management, retirement alternatives, estate planning, and educational planning.
