Audit & Assurance

Find the opportunities you’ve been missing.

Where can you improve performance? How can you evaluate job costs more accurately? What can you do to increase the chance that bonding is available when you need it? At HORNE, we work with you to find the necessary answers to succeed and keep your business compliant.

Our audit and assurance team can transform financial statements into strategies for pursuing opportunity. We look beyond the numbers and help you find meaningful ways to build your business.

Details matter, and our team can help identify and take advantage of opportunity and risk to help construction businesses do what they do best – build for a fuller tomorrow.

Financial Statement Preparation

Whether you are bidding for a job, tax planning or reporting to stakeholders, accurate GAAP financial statements are crucial for ensuring an optimal outcome.

With our assurance services, HORNE can instill confidence in your accounting records and provide an accurate snapshot of your financial position. We provide you with the information you need to respond to requirements and opportunities. Our services include:

  • Audits, reviews and compilations
  • Financial statement preparation
  • Budgets
  • Cash flow analysis
  • Financial projections

Revenue Recognition

In construction, recognizing income or revenue doesn’t necessarily depend on when customers are invoiced or payment is received; it also can be recorded when or as work is completed. But if you record revenues too early, your income statements may show more profits than were actually earned in that period.

Whether you work on a cash or accrual basis, how and when you declare revenue can impact taxes and operating capital. At HORNE, we can help you use and understand generally accepted Revenue Recognition principles to establish a consistent revenue reporting methodology and ensure a more predictable cash flow.

Lease Standards

In 2016, the Financial Accounting Standards Board (FASB) issued a new accounting standard affecting companies that lease assets, such as real estate, vehicles and other equipment. Many lease agreements that were previously expensed will now be capitalized on the balance sheet. By creating new potential liabilities, these standards may impact working capital, bonding capacity, capital acquisition, debt covenants and lease-versus-buy decisions.

HORNE Construction can prepare your company for the new lease standards. We work with you to review existing contracts and lease arrangements and evaluate the potential impact on your bottom line and balance sheet.

Insights and
Resources

Navigating the Future of Construction

The construction industry has faced its fair share of challenges in recent years. But now, with continued federal funding, the industry is expected...

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HORNE Earns C3PAO Designation

HORNE's cyber team recently earned The Cyber AB Certified Third-Party Assessor Organization (C3PAO) designation which allows HORNE to perform...

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Construction Quarterly Economic Report

CICPAC, in collaboration with economist Dr. Chris Kuehl and Armada CI, has launched a quarterly economic report that specifically targets the...

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Wes T. Winborne assumes managing partner role in HORNE Construction

Wes T. Winborne has assumed the role of managing partner for HORNE Construction, effective January 1,...

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Construction Tax Planning Opportunities

One of the most comprehensive changes included in the TCJA is the changes in tax accounting methods available for...

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Mobile Workforce for Construction Whitepaper

Contractors have faced myriads of tax changes over the past several years. Some of the changes directly impact treatment of business travel, meals,...

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Acceleration & Growth

HORNE’s acceleration and growth services help you stay ahead of the change with our technology, people, process and experience solutions.


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