CFO Support for Construction Accounting

Written By Nicholas Doulaveris

In construction, numbers tell a deeper story than just profit and loss. From job costing to bonding to navigating work-in-progress schedules, your financial statements need to do more than just check a box for compliance — they need to drive decisions. That’s where a fractional CFO becomes a game-changer.

Why Construction Companies Struggle with Financial Statements

Most construction firms operate across multiple jobs, with different start/end dates, cost structures, and billing schedules. This creates unique challenges in:

  • Revenue recognition (percentage of completion vs completed contract)

  • Accurately tracking job costs

  • Managing retainage and overbillings

  • Preparing bonding-ready financials

Without the right financial leadership, the statements often misrepresent performance — or worse, delay financing or bonding approvals.

What a Fractional CFO Brings to the Table

A fractional CFO provides senior-level financial oversight without the cost of a full-time hire. Here’s how they help specifically with financial statements:

  • ✅ Job-Level Financial Accuracy: Ensures each job’s costs and revenues are properly matched and reflected in your P&L and balance sheet.

  • ✅ WIP Schedule Integration: Builds or reviews work-in-progress schedules so your statements reflect earned revenue — not just billed.

  • ✅ GAAP-Ready Reporting: Prepares financials in line with industry standards so you’re ready for banks, CPAs, and bonding agents.

  • ✅ Audit & Lender Coordination: Acts as the liaison between your company, external CPAs, and financial institutions — speaking their language and yours.

  • ✅ Strategic Adjustments: Identifies areas where financial results can be improved (or restructured) for better margins or covenant compliance.

Bottom Line

If you’re running a growing construction company and find that financial statements are a last-minute scramble — or worse, a missed opportunity — it may be time to bring in a fractional CFO.

You’ll gain clarity, control, and confidence in the numbers that drive your business.

Need help building reliable, job-ready financials for your construction company?
Let’s talk.

Nicholas Doulaveris