Construction
We Know This Industry
Running a successful architectural, engineering and construction (AEC) business takes more than good tools and hard work. It requires the assistance of professionals who know the industry and can help you operate more efficiently and successfully.
For decades, YHB has been providing tax, accounting, auditing and consulting services that help AEC clients do exactly that. Because AEC are a main focus of our firm, we’ve developed great expertise in anticipating and meeting the needs of businesses like yours.
Named in The Top 50 Construction Accounting Firms
At YHB, the healthcare industry is a major focus of our firm. So we’ve created specialized teams dedicated exclusively to serving Healthcare Practices, Healthcare Organizations, and the Senior Living Industry. Each team consists of highly experienced and specially trained professionals who know the ins and outs of the niche they serve, the regulations that govern it and the best practices that help achieve your goals.
Certified Construction Industry Financial Professionals
The Certified Construction Industry Financial Professional (CCIFP®) designation is the only certification for construction financial professionals and is accredited by the American National Standards Institute (ANSI) under ISO 17024:2012. The ICCIFP provides the construction industry with a third-party verification of an individual’s knowledge, which is essential to ethical financial management in today’s complex construction industry.
Many public accounting firms have construction clients, but construction may not be a major practice area. The firms that have CCIFPs on staff have demonstrated commitment to the industry and competence in construction financial management.
Public accounting professionals with the CCIFP® designation must have a minimum 4,000 hours professional experience in construction in addition to showing expertise in eight knowledge domains, and only two of the knowledge domains are accounting related:
Accounting and reporting
Income recognition methods
Risk management
Budgeting and planning
Legal
Human resources
Taxes
Information technology
AEC Accounting Solutions that Work for You
Solutions to Help You Succeed
At YHB, we build teams tailored to your goals. Because truthfully, we’ve never been comfortable with uniformed solutions. Instead, we pull from our collective expertise to design a sophisticated blueprint for your financial future.
Engagement Team Continuity
Because our turnover is low, you’ll be served by many of the same professionals throughout an engagement and over the years. This means you won’t have to explain what your organization does to new staff each year.
Scalable for the Future
We offer a full range of scalable services that can be right-sized to meet your needs. And once we’ve determined the kind of services you need, you can count on a predictable fee and continuity of service.
As a result, YHB is ready to help you build your success with services that include:
- Audits, reviews, and compilations, including Federal
Acquisition Rate (FAR) audits - Tax planning and filing
- Historic Property Rehabilitation Tax Credits
- Energy-Efficiency Tax Credits
- Strategic Planning, business valuation, and M&A
assistance - Succession and estate planning
- Cost-segregation studies and fixed-asset
depreciation records
- Selecting the best organizational structure and
accounting method - Bonding and surety analysis, and operational reviews
- Payroll tax services and employee benefit plans
- Risk management and litigation support
- Computer hardware and accounting software
selection
In addition, We offer these construction-specific services
Monitoring Services
Monitoring services allow you to understand how your company compares to others in your industry, how this year compares to last year, and how third party users, like banks and bonding companies, interpret your statements. Monitoring services include:
- Trend analysis and benchmarking
- Contract schedule design, reconciliation, and
analysis - Financial statement interpretation and analysis
- Management meetings to communicate and
implement recommendations
Advisory Services
Advisory services are designed to maximize your financial and tax positions. Management snapshots help you negotiate the vast amounts of information generated by today’s technology. Social media posts and monthly newsletters keep you connected. Advisory services include:
- Tax reduction and deferral
- Financial management including cash flow analysis,
budgeting, and projections - Project management insights through performance
and job analysis - Equipment management advice through depreciation strategies, costing and allocation
- Accounting system and software assessment,
design, and monitoring - Debt analysis and negotiation
- Inventory management
- Bond enhancement