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Toca Family
Communications Group, LLC
Toca Family
Communications Group
publishes the EQUAL
CONSTRUCTION RECORD
commercial construction
trade newspaper. EQUAL
CONSTRUCTION RECORD is
the only construction trade
publication solely serving
the Georgia commercial
construction industry. The
Company also publishes
books and research reports
targeted at small and
medium business owners in
the construction and other
industries. The Company is
a member of the Toca
Family group of companies
which include Toca Family
Business Services and Toca
Family Acquisitions.
Communications Group, LLC
Toca Family
Communications Group
publishes the EQUAL
CONSTRUCTION RECORD
commercial construction
trade newspaper. EQUAL
CONSTRUCTION RECORD is
the only construction trade
publication solely serving
the Georgia commercial
construction industry. The
Company also publishes
books and research reports
targeted at small and
medium business owners in
the construction and other
industries. The Company is
a member of the Toca
Family group of companies
which include Toca Family
Business Services and Toca
Family Acquisitions.
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THE ACCIDENTAL AMENDMENT
by Roxann Smithers
The legal agreement between a contractor and subcontractor lays out the rights and obligations of the
parties for the duration of the project. The legal agreement determines when the contractor will have to pay
the subcontractor, when the contractor has a right to terminate the subcontractor, and when the subcontractor
has to indemnify the contractor against claims and losses. When the circumstances of the project change
and the parties want to adjust their legal obligations, the parties purposefully make changes to the legal
agreement. The parties will either agree to an amendment or agree to a change order. However, the
parties must be aware of the circumstances in which a contract can be changed unintentionally. When the
legal agreement is changed unintentionally, the contractor may end up waiving rights or taking on new
obligations that were not part of the original bargain. This can add costs and erode the contractor’s profit
margin.
Imagine the following scenario: The contractor enters into a subcontract agreement. A provision of the
subcontract gives the contractor the right to terminate the subcontractor if the subcontractor uses materials
that are not on the contractor’s approved list of materials for the project. As stated, the parties can agree to
amend the approved list if the materials are not available. The parties can agree to a change order to
revise the subcontract price if some of the approved materials have become unavailable since the
subcontract was signed. In addition, there are several ways that this subcontract provision can be changed
unintentionally.
CONTINUED
UNDERSTANDING THE CASH FLOW STATEMENT
By Tiffany Wright
What is a cash flow statement? A cash flow statement records the cash inflows and outflows from a company.
Stated another way, a cash flow statement reports the amount of cash and cash equivalents entering and
leaving a company during the specified time frame. This Cash Flow Statement enables the owner, bankers,
operational and financial managers, and others to view the company’s operations from a cash perspective.
Thus, these people better understand how the company’s operations are running, where the money is
coming from, and how the money is being spent. The typical categories on a Cash Flow Statement are as
follows: Operations, Financing, and Investing.
The operations section measures the inflows and outflows from core business activities or “operations”. This
section is where it is evident that the company can or cannot support itself solely from revenues. If the
company can, the net operating cash flow will be positive. If the company cannot, it will be negative.
However, this definition can be too simplistic. If the Cash Flow Statement spans 3 months, the net operating
cash flow may be positive for the period but may have been negative at the one-month mark. Where then
did the funds come from to run the company during the negative period? This is why monitoring the cash
and projecting operating cash flow out several weeks and months is so important. If there will be operating
cash shortfalls, then the company must generate cash through financing and/or investing activities.
CONTINUED
by Roxann Smithers
The legal agreement between a contractor and subcontractor lays out the rights and obligations of the
parties for the duration of the project. The legal agreement determines when the contractor will have to pay
the subcontractor, when the contractor has a right to terminate the subcontractor, and when the subcontractor
has to indemnify the contractor against claims and losses. When the circumstances of the project change
and the parties want to adjust their legal obligations, the parties purposefully make changes to the legal
agreement. The parties will either agree to an amendment or agree to a change order. However, the
parties must be aware of the circumstances in which a contract can be changed unintentionally. When the
legal agreement is changed unintentionally, the contractor may end up waiving rights or taking on new
obligations that were not part of the original bargain. This can add costs and erode the contractor’s profit
margin.
Imagine the following scenario: The contractor enters into a subcontract agreement. A provision of the
subcontract gives the contractor the right to terminate the subcontractor if the subcontractor uses materials
that are not on the contractor’s approved list of materials for the project. As stated, the parties can agree to
amend the approved list if the materials are not available. The parties can agree to a change order to
revise the subcontract price if some of the approved materials have become unavailable since the
subcontract was signed. In addition, there are several ways that this subcontract provision can be changed
unintentionally.
CONTINUED
UNDERSTANDING THE CASH FLOW STATEMENT
By Tiffany Wright
What is a cash flow statement? A cash flow statement records the cash inflows and outflows from a company.
Stated another way, a cash flow statement reports the amount of cash and cash equivalents entering and
leaving a company during the specified time frame. This Cash Flow Statement enables the owner, bankers,
operational and financial managers, and others to view the company’s operations from a cash perspective.
Thus, these people better understand how the company’s operations are running, where the money is
coming from, and how the money is being spent. The typical categories on a Cash Flow Statement are as
follows: Operations, Financing, and Investing.
The operations section measures the inflows and outflows from core business activities or “operations”. This
section is where it is evident that the company can or cannot support itself solely from revenues. If the
company can, the net operating cash flow will be positive. If the company cannot, it will be negative.
However, this definition can be too simplistic. If the Cash Flow Statement spans 3 months, the net operating
cash flow may be positive for the period but may have been negative at the one-month mark. Where then
did the funds come from to run the company during the negative period? This is why monitoring the cash
and projecting operating cash flow out several weeks and months is so important. If there will be operating
cash shortfalls, then the company must generate cash through financing and/or investing activities.
CONTINUED
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| BOMA 2009 Tradeshow |
The JUNE issue of Equal Construction Record highlights doing business with
the government and the BOMA Tradeshow.
The APRIL issue of Equal Construction Record featured two public works
entities in Georgia - the Georgia Dept. of Transportation (GDOT) and Gwinnett
County.
the government and the BOMA Tradeshow.
The APRIL issue of Equal Construction Record featured two public works
entities in Georgia - the Georgia Dept. of Transportation (GDOT) and Gwinnett
County.
| NEW Check out our new BLOG daily for up-to-date information on building your construction business, bid opportunities, events, etc.. Visit http://equalconstruction .com/blog |
| FEBRUARY 09 ISSUE |
| As the economy worsens, incidences of burglary and theft increase. PROTECT YOUR OFFICE OR RESIDENCE. Click here! |
| APRIL 09 ISSUE |
AllState Waste Inc.
Jobsite Trash Hauling and Disposal
Connie Cruz
2670 Jonesboro Rd SE, Atlanta, GA 30315
Ph: 404-361-9030 Fax: 404-299-4643
ccruz@allstatewaste.com
www.allstatewaste.com
City of Atlanta HBE / FBE , GMSDC
Fulton County MFBE, WBENC
Jobsite Trash Hauling and Disposal
Connie Cruz
2670 Jonesboro Rd SE, Atlanta, GA 30315
Ph: 404-361-9030 Fax: 404-299-4643
ccruz@allstatewaste.com
www.allstatewaste.com
City of Atlanta HBE / FBE , GMSDC
Fulton County MFBE, WBENC
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Templates.
Templates For
Proposals, User Guides,
Training, Software
Development, SOPs,
And White Papers.
CLICK HERE
HOW CONSTRUCTION CONTRACTORS GET RICH
By: Ron Roberts
The perfect business is one that generates money while its owner
sleeps. That’s not possible for some businesses, but it perfectly
demonstrates the two ultimate goals of most business owners: (1)
maximize wealth and (2) break free from their business.
Businesses do not create wealth and freedom by accident. They happen
because their owner created systems that turned the business into a
well-oiled machine. Have you automated the six primary systems your
business needs to succeed? Here are the six:
• Marketing
• Selling
• Staffing
• Planning
• Tracking
• Financial Control
At first blush, you may think you have systematized your construction
business, but a better test is to look at the subsystems that make up
the six systems. You probably will come up short when you review that
list.
Continued
By: Ron Roberts
The perfect business is one that generates money while its owner
sleeps. That’s not possible for some businesses, but it perfectly
demonstrates the two ultimate goals of most business owners: (1)
maximize wealth and (2) break free from their business.
Businesses do not create wealth and freedom by accident. They happen
because their owner created systems that turned the business into a
well-oiled machine. Have you automated the six primary systems your
business needs to succeed? Here are the six:
• Marketing
• Selling
• Staffing
• Planning
• Tracking
• Financial Control
At first blush, you may think you have systematized your construction
business, but a better test is to look at the subsystems that make up
the six systems. You probably will come up short when you review that
list.
Continued
BOMA 2009 Tradeshow: Putting All the Pieces Together
By Yovany Jerez and Tiffany Wright
The Building Owners and Management Association (BOMA), held its BOMA-
Atlanta Trade Show from 9am-4:30 pm at the Cobb Galleria in Atlanta on
May 20, 2009. The theme for 2009 was “Putting All the Pieces Together”.
Nearly 300 exhibitors showcased their products and services. The expo
sold again this year and, despite a belt-tightening by owners and
managers, had a stellar turnout from property managers, building and
facility engineers, and facility managers. Allied members ( vendors and
service providers to building staff) who were not exhibitors were not given
admission to the tradeshow floor to ensure the exhibitors only feted those
who could use their products and services.
By Yovany Jerez and Tiffany Wright
The Building Owners and Management Association (BOMA), held its BOMA-
Atlanta Trade Show from 9am-4:30 pm at the Cobb Galleria in Atlanta on
May 20, 2009. The theme for 2009 was “Putting All the Pieces Together”.
Nearly 300 exhibitors showcased their products and services. The expo
sold again this year and, despite a belt-tightening by owners and
managers, had a stellar turnout from property managers, building and
facility engineers, and facility managers. Allied members ( vendors and
service providers to building staff) who were not exhibitors were not given
admission to the tradeshow floor to ensure the exhibitors only feted those
who could use their products and services.
Like last year, to encourage traffic throughout the entire trade show and
ensure the exhibitors’ satisfaction with the turnout by prospective buyers
at their respective booths, BOMA again used a raffle. In order to
participate, each person had to obtain 16 stamps from designated booths
– known as Star booths - located throughout the exposition floor. Star
booth exhibitors such as Alpha Insulation & Waterproofing paid extra for
that designation but it was seemingly a wise business decision as the
Alpha Insulation employees were highly pleased with the amount of traffic
their booth received. Others expressed similar satisfaction.
ensure the exhibitors’ satisfaction with the turnout by prospective buyers
at their respective booths, BOMA again used a raffle. In order to
participate, each person had to obtain 16 stamps from designated booths
– known as Star booths - located throughout the exposition floor. Star
booth exhibitors such as Alpha Insulation & Waterproofing paid extra for
that designation but it was seemingly a wise business decision as the
Alpha Insulation employees were highly pleased with the amount of traffic
their booth received. Others expressed similar satisfaction.
John Cowley and
Jessica Teal of Alpha
Insulation and
Waterproofing
Jessica Teal of Alpha
Insulation and
Waterproofing
BOMA 2009 Tradeshow Entrance