Construction

Barfield, Murphy, Shank & Smith has worked extensively with clients in the construction industry and our professionals have experience working with contractors, subcontractors, developers, home builders, and other construction clients.  If there is one industry where BMSS has unique depth of experience and wealth of knowledge, it is construction.

How has BMSS served our construction clients?

  • Advised how to better track and minimize job costs - changes that have an immediate impact on the bottom line
  • Analytical review reports that show industry benchmarks
  • Assist with hiring and developing organizational charts
  • Construction Resource Guide with licensing overview, key indicators & ratios, bonding guidelines and surety checklists
  • Contractor license renewals
  • Develop systems to help better manage cash flow
  • Develop construction specific audit and accounting methods
  • Financing projections
  • Evaluate and select industry-specific software
  • Help educate bankers to clients’ financial statements and set up working capital loans as well as equipment financing
  • Negotiate bonding programs with brokers and bonding companies
  • Review financial statements with clients and perform quarterly reviews
  • Specialized tax strategies such as Section 179 deduction
  • Turnaround services
  • Work to reduce costs in areas such as worker’s compensation and insurance

BMSS stays on top of changes affecting your industry by actively participating in:

  • AICPA construction conferences
  • Alabama Surety Association
  • Alabama Utility Contractors Association
  • American Subcontractor Association (BMSS is the CPA firm for ASA of Alabama)
  • Associated Builders and Contractors
  • Association of General Contractors 
  • Construction Finance Managers Association

Client Testimonial

“Barfield, Murphy, Shank & Smith knows our business and is one of the few firms that understands the way construction accounting is done. We’re proud to be charter clients.”
- Construction company owner

BMSS Construction Practice Group