Alisa HuntAlisa Hunt has been a financial consultant for more than 20 years, and she has worked extensively with the construction industry.ManagementAssessing Your Income StatementDESCRIPTION 1ST YEAR % 2ND YEAR % 3RD YEAR %There are times when the percentages on an income statement appear to be skewed. This often is due to the recording of expenses before the corresponding revenue has been earned, such as when you have purchased all your materials for a huge job that you haven't started yet. It is suggested that, rather than record things in that manner, contractors should record the expenses as "work in progress" inventory on the balance sheet. This process, which was described in the article on balance sheets featured in the December 2004/January 2005 issue of Hardwood Floors on page 49, would show up as a current asset.March 31, 2005ManagementUnderstanding Your Balance SheetNovember 30, 2004Page 1 of 1Top StoriesSurveys2026 Wood Floor Business Contractor SurveyHere are the results from our exclusive survey of wood flooring contractors.ManagementHow Online Quoting Saved My Sanity and My BusinessTechniquesHow We Did This Floor: A Mixed Media Floor Fit for a Texas CastleLegal AdviceWood Floor Pros: Legal Risks of Working for Friends and FamilyDesignEnter the 2027 Wood Floor Business Design Awards
