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 StoriesRetailThriving Through Innovation: See the Winners of the 2025 WFB Outstanding Retailer AwardsFrom reimagined showrooms and mobile studios to thoughtful mentorship, employee empowerment and social media marketing, these WFB Outstanding Retailers are proving that personalized service is key to long-term success.TechniquesUseful Advice When Dealing With Pine FlooringContractingHow I Do These Jobs: Refinishing DecksManagementHow We Transitioned to a Second-Generation Family BusinessSponsor ContentTransform Red Oak Into White Oak In One Easy Step
