Should You Consider Implementing Project-Based Accounting?

Should You Consider Implementing Project-Based Accounting?This week’s linked article is by John W. Braine, Partner, CFO Edge, LLC.

Project-based accounting (or PBA) is frequently applied by project-based businesses in manufacturing, construction, professional services and government-contracting sectors.

Contrasted with standard accounting, expenses and revenue are tracked at the project level in project-based accounting – also referred to as job cost accounting – to better track data on and manage project costs and productivity.

Reviewed in this week’s full PDF…

Should You Consider Implementing Project-Based Accounting?

…is how project-based firms risk four negative outcomes without project-based accounting,  as well as how managing by project-level data drives eight key benefits.

The ability to monitor incurred project costs in relation to revenue improves controls over project direction, project resources and project efficiencies.

Greater Los Angeles and Southern California executives leading project-based businesses can benefit from talking with a provider of outsourced CFO services.

An on-demand CFO brings a successful client-side and services-side track record of assessing project-based accounting factors and recommending the processes needed to deliver improved outcomes.

This entry was posted in Accounting & Finance Departments, Accounting Systems Design, Activity-Based Costing, CFO Services, Financial Planning & Analysis (FP&A), Financial Reporting, Los Angeles, Project-Based Accounting. Bookmark the permalink.

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