Financial Operations Intelligence — Construction Accounting & GAAP Compliance
GAAP & Standards
Percentage-of-completion vs completed contract. 5-step model for construction contracts. Variable consideration and change orders.
ASC 350-40Internal-use software costs. When to capitalize vs expense. Application development stage criteria for proptech platforms.
ASC 310-20Nonrefundable fees, net origination costs. RCM mortgage structure under GAAP. Interest deferral as separate liability.
ASC 718Stock-based compensation measurement. Fair value at grant date. ML Systems equity gift structure — URI fiduciary model.
Construction Cost Engineering
Accelerated depreciation via component reclassification. 5, 7, 15-year property vs 27.5/39-year. First-year bonus depreciation.
Job CostWIP schedules, cost-to-complete estimates, over/under billing analysis. Multi-project allocation. Zone-based cost tracking.
MaterialsRecovered material accounting. ML Material IDs, grade-based pricing, inventory methods (FIFO vs weighted avg). Decon-to-BOH pipeline.
PayrollDay N payroll system accounting. Daily ACH, gross-up method, prevailing wage (Davis-Bacon), RI withholding, workers comp allocation.
Tax & Entity Structure
LLC electing C-Corp status. 21% flat rate, accumulated earnings tax, Section 1202 QSBS exclusion. Double taxation mitigation.
RI IncentivesRebuild RI tax credits, historic preservation credits, opportunity zones, affordable housing credits. State-specific construction benefits.
GrantsASC 958-605 for government grants. Housing 2030 fund tracking. FHLBB subsidy recognition. Conditional vs unconditional contributions.
RCM100% principal allocation model. Deferred interest as separate liability. Credit-tier variant treatment. Novel mortgage product GAAP mapping.
Operations