Emma Shinn - Accounting & Financial Management for Residential Construction, Sixth Edition

Accounting & Financial Management for Residential Construction, Sixth Edition

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ISBN-13: 978-0-86718-781-6

eISBN-13: 978-0-86718-782-3

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E mma Shinn, CPA, is an officer of the Shinn Group of Companies, including Shinn Consulting, and Builder Partnerships in Littleton, Colorado. In the 1960s, she worked for Touche, Ross and Company (now Deloitte & Touche). She has an MBA in accounting from The American University in Washington, D.C., and is a certified public accountant (CPA). She served as Chairman of the NAHB Business Management and Information Technology Committee in 1997.

Her background in the industry dates back to the 1970s and includes all aspects of the building process such as planning, design, supervision, sales and administration of single family projects. She received the MAME Award for the Rookie Salesperson of the Year presented by the Denver Home Builders Association in 1988. Emmas specialization is accounting for the home building industry, addressing not only financial reporting but also the use of accounting information in the management process. She has been a consultant and coach specifically in the area of accounting, financial analysis and software selection to many home building companies throughout the years.

For 27 years, she has conducted an annual financial and operational research study of a segment of the home building industry, which includes financial performance, organization and operational structure, utilization of management systems and procedures, staffing, salaries, insurance, use of technology, builders response to economic industry cycles and general trends.

T his sixth edition of Accounting and Financial Management for Residential Construction is the product of several years of planning, writing, and reviewing by people working to improve the management of home building, remodeling, and land development firms.

Special credit is due to Lee S. Evans, (deceased) Nederland, Colorado, who developed the original NAHB Chart of Accounts in the late 1960s. Since then, the chart of accounts has been reviewed and updated several times by the NAHB Financial Management and General and Administrative Expenses Subcommittee. The last update for this sixth edition was done in collaboration between Emma Shinn and Steve Hays, Partner, Rubin Brown.

Many thanks to the following individuals who contributed their expertise and time to reviewing the manuscript for this sixth edition of Accounting and Financial Management for Residential Construction: Steve Hays, partner, Rubin Brown; Matthew Beerbower, partner, Rubin Brown; from St. Louis Missouri, specifically for their contributions to , Utilizing Technology; and Charles C. Shinn, Jr., president, The Shinn Group in Littleton, Colorado, for his support and being the sounding boardparticularly with the management concepts presented in the book.

The author thanks the following individuals who reviewed the previous editions: Greg Caruso, president, Caruso Homes in Crofton Maryland; Steve Maltzman, (deceased) president SMA Consulting in Redlands, California; Ken Waetzman, president, Waetzman Realty Advisors in Cherry Hill, New Jersey; and Jamie Wolf, president, Wolfworks in Farmington, Connecticut.