Construction, Manufacturing & Distribution
Accounting for contractors, manufacturers, and distributors
Contractors and manufacturers get asked for financial statements more often than most businesses, and by people who read them closely: a bonding company setting a limit, a bank setting a covenant, a general contractor qualifying a sub, a buyer running diligence.
Jacobs & Newmark has served these industries since 1988, and John Whiston, CPA spent the majority of a thirteen-year career at global and national firms doing assurance work for construction, manufacturing, and distribution clients, including SEC registrants. He is a member of the Construction Financial Management Association. Wayne I. Jacobs, CPA has worked with construction, wholesale, and manufacturing clients across thirty years of public accounting.
The firm performs the reviews and compilations these businesses are asked to produce, and prepares the statements behind them.
What makes this different
Work in progress is the whole picture
For a contractor, the schedule of contracts in progress says more about the business than the income statement does. Under- and over-billings, estimated cost to complete, and gross profit fade are where a job goes wrong long before the P&L shows it.
Statements written for a third-party reader
Bonding companies and lenders read these statements against criteria the owner does not set. The presentation, the disclosures, and the level of service, whether compilation, review, or audit, determine whether the statement does its job.
Costing that has to survive a bad quarter
Job costing for a contractor and standard costing for a manufacturer are the same problem in different clothes: overhead has to land on the right work, or every margin the business reports is fiction. It only becomes visible when volume drops.
Equipment, capacity, and timing
These are capital-heavy businesses whose purchase decisions are large, infrequent, and consequential. The decision is worth planning around before it is made, which is a different conversation from recording it afterward.
What we handle for these clients
Common questions
Construction, Manufacturing & Distribution, answered.
- Does Jacobs & Newmark prepare financial statements for bonding companies?
- Yes. Jacobs & Newmark, P.C. performs reviews and compilations under AICPA standards for construction contractors and prepares the financial statements bonding companies and lenders require. John Whiston, CPA, who leads this work, is a member of the Construction Financial Management Association and spent most of his career in assurance at global and national accounting firms. Call (847) 537-0100.
- Who does accounting for construction companies near Wheaton, IL?
- Jacobs & Newmark, P.C. has offices in Wheaton and Buffalo Grove, Illinois and has served construction contractors since 1988. The firm handles job costing, work-in-progress reporting, reviews and compilations, payroll and sales tax compliance, tax planning, and succession planning for contractors across DuPage, Lake, and Cook Counties.
- Does the firm work with manufacturers and distributors?
- Yes. John Whiston, CPA provided assurance and consulting services to manufacturing and distribution clients, including SEC registrants and private-equity-backed portfolio companies, at global and national firms. Wayne I. Jacobs, CPA has worked with wholesale and manufacturing clients throughout thirty years of public accounting at Jacobs & Newmark.
Other industries we specialize in
Tell us about the business.
A first conversation is about what you run, how the books are handled now, and what prompted you to look. If we are the right firm we will say so, and if we are not we will say that too.
- DuPage County
- Wheaton, IL
106 E Liberty Dr., Suite 201 - Lake County
- Buffalo Grove, IL
100 Lexington Dr., Suite 210 - Hours
- Monday – Friday, 9:00am – 5:00pm