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Financial management of construction contractors.
Chris J. Lacaria
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Abstract
The scope of this paper is to discuss the financial management of a construction contractor. This paper attempts to approach this subject in a logical and systematic way. It communicates the importance of financial analysis and planning along with cash planning and profit planning. This report is not intended to be an all inclusive discussion of financial management in construction. Contractor's Financial Management is an extremely important subject. It has been told that a large percentage of bankrupt contractors were profitable at the time of their failure, but due to their poor financial management failure resulted. Good financial management looks at past history of the company as well as planning for its future. Management needs to understand the basics of why they are making or losing money.