Press Release
Soren McAdam Christenson LLP
Certified Public Accountants and Business Advisors
Contact: Roger Wadell, Partner
909.798.2222
PR Contact: Ron Burgess
909.798.5737
FOR IMMEDIATE RELEASE
May 30, 2006
Contractors Face Specialized Accounting and Finance Needs ― Industry-specific solutions offered by local accounting firm.
Each industry has specific issues relating to product delivery. Unlike the manufacturing industry, where the raw materials are collected in the plant, contractors take the materials and labor to a unique location for fabrication. This creates special needs for scheduling materials’ delivery and sub-contractors, each having their costs based on how well the project is managed. Add into the mix, financing the costs of delays and mistakes, as well as increasing the cost of material incurred during construction, and you have the perfect recipe for contract over-runs and losses.
The Inland Empire’s strong building environment has allowed for increased pricing; but, as some segments cool, pricing resistance always puts pressure on the bottom- line, especially for those operations that get sloppy during good times. Efficient, well-run construction companies are more competitive during tough times, and simply make more money during times such as the industry is currently experiencing. Soren McAdam Christenson LLP takes pride in assisting its clients to better manage scheduling and costing processes, IT, and accounting for better reporting, as well as consulting with its clients on a variety of construction-related specializations.
Soren McAdam Christenson has been deeply involved with general and sub-contractors for several decades, and in more recent years has developed a “construction team” ― that focuses on, and specializes in ― serving contractors and developers. These accounting specialists regularly communicate with each other regarding current trends and developments in both the industry, and within the Inland Empire. In contracting and development, cost and project management are critical; this is an area where SMC can really help.
SMC’s commitment to all facets of the construction industry runs deeper than traditional accounting. The firm’s specialized construction team also includes IT professionals, who build specialized industry systems. These specialists can help interface existing client systems into coherent reporting formats helpful for operations, labor, material coordination, and critical job-costing information. SMC professionals understand how underlying systems can positively impact project management ― and ultimately, profit.
Bonding is critical to most contractors, but not all contactors understand how to work with bonding companies. Bonding companies look for specific formats in financial reporting, which is different than what a banker might accept for a construction loan. Understanding the nuances of this reporting has earned Soren McAdam Christenson a strong reputation among bonding companies, one they can rely upon for underwriting. This single issue can dramatically affect a contractor’s ability to grow and prosper.
Soren McAdams Christenson’s construction team is a group of people who have been involved in construction for most of their lives; some were in construction before they became CPAs. They are proud to have many of the region’s best contractors as long- time clients. It is only natural that Soren McAdam Christenson LLP is committed to the Inland Empire and its economic development, because the roots of the firm, and those of its partners, are deeply planted in the region. SMC’s construction partners live and work in the Inland Empire; they are actively involved in their communities, and in the construction industry.
The Soren McAdam Christenson’s Construction Team is just one reason why SMC is the leading CPA firm in the Inland Empire. With its affiliation with PKF International, a global network of first-class accounting firms, Inland Empire companies do not need to travel to Orange or Los Angeles Counties to find top CPAs and business advisors with a global reach.
For more information on SMC, contact Roger Wadell, partner, at 909.798.2222 or visit www.smc-cpas.com.
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