PROFESSIONAL BUILDER SECRETS PODCAST

Episode 179: WIPAA, The Builder's Blindspot With Andy Skarda

Listen on

Apple Podcasts

Listen on

Spotify Podcasts

Watch on

Youtube

most accountants aren't trained to learn the nuances of the building industry

Professional Builders Secrets brings you a special episode recorded live from the International Builders Show in Las Vegas, featuring APB’s Head Coach, Andy Skada. In this powerful conversation, Andy and Will dive into one of the most misunderstood yet critical financial concepts for builders, the Work In Progress Accounting Adjustment (WIPAA).

Inside episode 179 you will discover

Why failing to track WIPAA can ruin your profitability
How inaccurate financial data leads to poor business decisions
The difference between WIP and WIPAA — and why it matters
What most accountants don’t know about residential building
The connection between WIPAA, cash flow, and tax
How to practically implement WIPAA in your building company
And much, much more.

key moments

03:45 The $100K mistake most builders make
07:20 Why accountants often get it wrong
10:50 The consequences of inaccurate profit reports
14:15 How to implement WIPAA in your business
19:05 What to do if your WIPAA reveals a cash shortfall
23:40 The tax advantage most builders are missing

key moments

03:45 The $100K mistake most builders make
07:20 Why accountants often get it wrong
10:50 The consequences of inaccurate profit reports
14:15 How to implement WIPAA in your business
19:05 What to do if your WIPAA reveals a cash shortfall
23:40 The tax advantage most builders are missing

Apparatus Contractor Services

This episode is proudly sponsored by Apparatus Contractor Services

Learn more

Andy Skarda has owned and led businesses in South Africa, the United States, South-East Asia, and for the last decade, Australia. With 30+ years of business experience, Andy heads up the coaching team at the Association of Professional Builders (APB), helping business owners in the building industry identify and implement the skills and systems they need to be successful, without needing to go back to school or more importantly, without going bust.

connect with

Andy

connect with