--- title: LGT ProfitSense Insights | Construction description: Construction | LGT provides up-to-date accounting and business insights that help you build a stronger business and organization. --- - [EVENTS](https://www.lgt-cpa.com/events) - [HOUSTON OFFICE](https://www.lgt-cpa.com/houston) [![LGT](https://blog.lgt-cpa.com/hs-fs/hubfs/raw_assets/public/LGT_February2021/images/lgt_horiz_new_color@4x.png?width=200&height=841&name=lgt_horiz_new_color@4x.png "LGT")](https://www.lgt-cpa.com) - [CAREERS](https://www.lgt-cpa.com/careers) - [SUBMIT RFP](https://www.lgt-cpa.com/request-a-proposal) - [MAKE A PAYMENT](https://www.lgt-cpa.com/make-a-payment) - [ABOUT](https://www.lgt-cpa.com/about) - [PEOPLE](https://www.lgt-cpa.com/our-people) - [SERVICES](https://www.lgt-cpa.com/services) - Part of being a most trusted advisor is taking the time to look at the big picture. - [Accounting & Consulting](https://www.lgt-cpa.com/accountingconsultingservices) - [Assurance Services](https://www.lgt-cpa.com/assurance-services) - [Estate, Gift & Trust](https://www.lgt-cpa.com/estategifttrust) - [Financial Advisors](https://www.lgt-fa.com/) - [International Tax](https://www.lgt-cpa.com/international-tax) - [State & Local Tax](https://www.lgt-cpa.com/statelocaltax) - [Tax Services](https://www.lgt-cpa.com/tax-services) - [INDUSTRIES](https://www.lgt-cpa.com/industries) - LGT is one of the largest professional accounting and advisory firms in the Dallas/Fort Worth metroplex area. - [Construction/Real Estate](https://www.lgt-cpa.com/construction-realestate) - [Dealer Services](https://www.lgt-cpa.com/dealer-services) - [Dental Practice](https://www.lgt-cpa.com/dental-practice) - [Healthcare Industry](https://www.lgt-cpa.com/healthcare) - [Manufacturing & Distribution](https://www.lgt-cpa.com/manufacturingdistribution) - [Not-for-Profit](https://www.lgt-cpa.com/not-for-profit) - [INSIGHTS](https://blog.lgt-cpa.com) - [CONTACT](https://www.lgt-cpa.com/contactus) - [ABOUT](https://www.lgt-cpa.com/about) - [OUR PEOPLE](https://www.lgt-cpa.com/our-people) - [SERVICES](https://www.lgt-cpa.com/services) - [Accounting & Consulting](https://www.lgt-cpa.com/accountingconsultingservices) - [Assurance Services](https://www.lgt-cpa.com/assurance-services) - [Estate, Gift & Trust](https://www.lgt-cpa.com/estategifttrust) - [Financial Advisory](https://www.lgt-fa.com/) - [International Tax](https://www.lgt-cpa.com/international-tax) - [State & Local Tax](https://www.lgt-cpa.com/statelocaltax) - [Tax Services](https://www.lgt-cpa.com/tax-services) - [INDUSTRIES](https://www.lgt-cpa.com/industries) - [Construction/Real Estate](https://www.lgt-cpa.com/construction-realestate) - [Dealer Services](https://www.lgt-cpa.com/dealer-services) - [Dental Practice](https://www.lgt-cpa.com/dental-practice) - [Healthcare Group](https://www.lgt-cpa.com/healthcare) - [Manufacturing & Distribution](https://www.lgt-cpa.com/manufacturingdistribution) - [Not-for-Profit](https://www.lgt-cpa.com/not-for-profit) - [INSIGHTS](https://blog.lgt-cpa.com) - [NEWS & PRESS](https://blog.lgt-cpa.com/news-press) - [EVENTS](https://www.lgt-cpa.com/events) - [CAREERS](https://www.lgt-cpa.com/careers) - [CONTACT](https://www.lgt-cpa.com/contactus) - [MAKE A PAYMENT](https://www.lgt-cpa.com/make-a-payment) # LGT's ProfitSense ## [Building Beyond 2023: Trends and Challenges in Construction](https://blog.lgt-cpa.com/blogarchive/2023-economic-update-for-the-construction-industry) Posted by Kyle Pacheco, CPA, CCIFP on Mar 26, 2024 [![Building Beyond 2023: Trends and Challenges in Construction](https://blog.lgt-cpa.com/hubfs/Blog%20Posts%20(75)%20(1).png) ](https://blog.lgt-cpa.com/blogarchive/2023-economic-update-for-the-construction-industry) The construction industry saw a strong rebound from COVID and showed strong performance throughout 2023. This was bolstered largely on the strong growth in U.S. gross domestic product in both Q3 and... [Read More](https://blog.lgt-cpa.com/blogarchive/2023-economic-update-for-the-construction-industry) 0 Comments [Click here to read/write comments](https://blog.lgt-cpa.com/blogarchive/2023-economic-update-for-the-construction-industry#comments-listing) Topics: [Construction](https://blog.lgt-cpa.com/blogarchive/topic/construction), [2024](https://blog.lgt-cpa.com/blogarchive/topic/2024) ## [Building Security: Unmasking the Cyber 'Villains' in Construction!](https://blog.lgt-cpa.com/blogarchive/building-a-secure-future-unmasking-the-cyber-villains-in-construction) Posted by LGT Staff on Jan 25, 2024 [![Building Security: Unmasking the Cyber 'Villains' in Construction!](https://blog.lgt-cpa.com/hubfs/Blog%20Posts.png) ](https://blog.lgt-cpa.com/blogarchive/building-a-secure-future-unmasking-the-cyber-villains-in-construction) Thinking about the industries that are most at risk for cyberattacks, the construction industry might not be near the top of most people’s lists. According to a report from the security software... [Read More](https://blog.lgt-cpa.com/blogarchive/building-a-secure-future-unmasking-the-cyber-villains-in-construction) 0 Comments [Click here to read/write comments](https://blog.lgt-cpa.com/blogarchive/building-a-secure-future-unmasking-the-cyber-villains-in-construction#comments-listing) Topics: [Construction](https://blog.lgt-cpa.com/blogarchive/topic/construction), [Cybersecurity](https://blog.lgt-cpa.com/blogarchive/topic/cybersecurity), [2024](https://blog.lgt-cpa.com/blogarchive/topic/2024) ## [Your Guide to Accurate Estimates in Building a Successful Construction Business](https://blog.lgt-cpa.com/blogarchive/your-guide-to-accurate-estimates-in-building-a-successful-construction-business) Posted by LGT Staff on Oct 27, 2023 [![Your Guide to Accurate Estimates in Building a Successful Construction Business](https://blog.lgt-cpa.com/hubfs/Blog%20Posts%20(65)%20(1).png) ](https://blog.lgt-cpa.com/blogarchive/your-guide-to-accurate-estimates-in-building-a-successful-construction-business) Successful construction companies depend on creating accurate estimates for bids and projects. Accurate estimates are essential for everything from winning bids to securing a company’s long-term... [Read More](https://blog.lgt-cpa.com/blogarchive/your-guide-to-accurate-estimates-in-building-a-successful-construction-business) 0 Comments [Click here to read/write comments](https://blog.lgt-cpa.com/blogarchive/your-guide-to-accurate-estimates-in-building-a-successful-construction-business#comments-listing) Topics: [Construction](https://blog.lgt-cpa.com/blogarchive/topic/construction) ## [Contractors: Here's 6 Ways You Can Increase Your Cash Flow and Bonding Capacity](https://blog.lgt-cpa.com/blogarchive/contractors-heres-6-ways-you-can-increase-your-cash-flow-and-bonding-capacity) Posted by Kyle Pacheco, CPA, CCIFP on Sep 26, 2023 [![Contractors: Here's 6 Ways You Can Increase Your Cash Flow and Bonding Capacity](https://blog.lgt-cpa.com/hubfs/Kyle.png) ](https://blog.lgt-cpa.com/blogarchive/contractors-heres-6-ways-you-can-increase-your-cash-flow-and-bonding-capacity) Contractors who want to be considered for and take on larger, more complex construction projects typically need to obtain a surety bond. The higher a contractor’s bonding capacity, the larger the... [Read More](https://blog.lgt-cpa.com/blogarchive/contractors-heres-6-ways-you-can-increase-your-cash-flow-and-bonding-capacity) 0 Comments [Click here to read/write comments](https://blog.lgt-cpa.com/blogarchive/contractors-heres-6-ways-you-can-increase-your-cash-flow-and-bonding-capacity#comments-listing) Topics: [Construction](https://blog.lgt-cpa.com/blogarchive/topic/construction), [Cash Flow](https://blog.lgt-cpa.com/blogarchive/topic/cash-flow), [Contractors](https://blog.lgt-cpa.com/blogarchive/topic/contractors), [Bonding Capacity](https://blog.lgt-cpa.com/blogarchive/topic/bonding-capacity) ## [A Simple Guide to Activity-Based Costing for Construction Companies](https://blog.lgt-cpa.com/blogarchive/a-simple-guide-to-activity-based-costing-for-construction-companies) Posted by Tylynn Brown on Jul 25, 2023 [![A Simple Guide to Activity-Based Costing for Construction Companies](https://blog.lgt-cpa.com/hubfs/Blog%20Posts%20(48)%20(1).png) ](https://blog.lgt-cpa.com/blogarchive/a-simple-guide-to-activity-based-costing-for-construction-companies) Construction is an expensive business. Materials keep going up in price, as do many other expenses. As a contractor, you want to use all of your resources as efficiently as possible. When... [Read More](https://blog.lgt-cpa.com/blogarchive/a-simple-guide-to-activity-based-costing-for-construction-companies) 0 Comments [Click here to read/write comments](https://blog.lgt-cpa.com/blogarchive/a-simple-guide-to-activity-based-costing-for-construction-companies#comments-listing) Topics: [Real Estate](https://blog.lgt-cpa.com/blogarchive/topic/real-estate), [Construction](https://blog.lgt-cpa.com/blogarchive/topic/construction) ## [Answering Your FAQs from the Latest Updates on Residential Energy Credits](https://blog.lgt-cpa.com/blogarchive/answering-your-faqs-from-the-latest-updates-on-the-residential-energy-credits) Posted by Aden Pham, CPA on Jun 27, 2023 [![Answering Your FAQs from the Latest Updates on Residential Energy Credits](https://blog.lgt-cpa.com/hubfs/Aden%20Pham.jpg) ](https://blog.lgt-cpa.com/blogarchive/answering-your-faqs-from-the-latest-updates-on-the-residential-energy-credits) The Inflation Reduction Act of 2022 (IRA), signed into law last August, touched on a wide variety of climate change and clean energy matters. But perhaps the most important changes for individuals... [Read More](https://blog.lgt-cpa.com/blogarchive/answering-your-faqs-from-the-latest-updates-on-the-residential-energy-credits) 0 Comments [Click here to read/write comments](https://blog.lgt-cpa.com/blogarchive/answering-your-faqs-from-the-latest-updates-on-the-residential-energy-credits#comments-listing) Topics: [Real Estate](https://blog.lgt-cpa.com/blogarchive/topic/real-estate), [Construction](https://blog.lgt-cpa.com/blogarchive/topic/construction), Tax Credits ## [7 Ways Construction & Real Estate Companies Can Prepare for a Possible Recession](https://blog.lgt-cpa.com/blogarchive/7-ways-construction-real-estate-companies-can-prepare-for-a-possible-recession) Posted by Justin Lewis, CPA on Dec 14, 2022 [![7 Ways Construction & Real Estate Companies Can Prepare for a Possible Recession](https://blog.lgt-cpa.com/hubfs/Justin.png) ](https://blog.lgt-cpa.com/blogarchive/7-ways-construction-real-estate-companies-can-prepare-for-a-possible-recession) Inflation and increasing interest rates have made many people nervous in a wide range of industries. Ongoing struggles that began with the COVID-19 pandemic, such as supply chain issues, only add to... [Read More](https://blog.lgt-cpa.com/blogarchive/7-ways-construction-real-estate-companies-can-prepare-for-a-possible-recession) 0 Comments [Click here to read/write comments](https://blog.lgt-cpa.com/blogarchive/7-ways-construction-real-estate-companies-can-prepare-for-a-possible-recession#comments-listing) Topics: [Real Estate](https://blog.lgt-cpa.com/blogarchive/topic/real-estate), [Construction](https://blog.lgt-cpa.com/blogarchive/topic/construction), [Recession](https://blog.lgt-cpa.com/blogarchive/topic/recession) ## [Mitigating Cybersecurity Risks in the Construction Industry](https://blog.lgt-cpa.com/blogarchive/mitigating-cybersecurity-risks-in-the-construction-industry) Posted by Justin Lewis, CPA on Sep 13, 2022 [![Mitigating Cybersecurity Risks in the Construction Industry](https://blog.lgt-cpa.com/hubfs/2.jpg) ](https://blog.lgt-cpa.com/blogarchive/mitigating-cybersecurity-risks-in-the-construction-industry) Cybersecurity is a major concern for almost every industry, with each industry dealing with its own unique risks. For the construction industry, cybersecurity – and the lack thereof – can affect... [Read More](https://blog.lgt-cpa.com/blogarchive/mitigating-cybersecurity-risks-in-the-construction-industry) 0 Comments [Click here to read/write comments](https://blog.lgt-cpa.com/blogarchive/mitigating-cybersecurity-risks-in-the-construction-industry#comments-listing) Topics: [Construction](https://blog.lgt-cpa.com/blogarchive/topic/construction), [Cybersecurity](https://blog.lgt-cpa.com/blogarchive/topic/cybersecurity) ## [Construction Companies: Five Goals to Set Your Company Up for Successful Growth](https://blog.lgt-cpa.com/blogarchive/construction-companies-five-goals-to-set-your-company-up-for-successful-growth) Posted by Kyle Pacheco, CPA, CCIFP on Jul 9, 2021 [![Construction Companies: Five Goals to Set Your Company Up for Successful Growth](https://blog.lgt-cpa.com/hubfs/Kyle%20Pacheco-1.jpg) ](https://blog.lgt-cpa.com/blogarchive/construction-companies-five-goals-to-set-your-company-up-for-successful-growth) The chaos of the COVID-19 pandemic has caused a lot of uncertainty in the construction industry, but having goals for your business makes it much easier to move forward, even during difficult times.... [Read More](https://blog.lgt-cpa.com/blogarchive/construction-companies-five-goals-to-set-your-company-up-for-successful-growth) 0 Comments [Click here to read/write comments](https://blog.lgt-cpa.com/blogarchive/construction-companies-five-goals-to-set-your-company-up-for-successful-growth#comments-listing) Topics: [Construction](https://blog.lgt-cpa.com/blogarchive/topic/construction) ## [Financial ratios and KPIs for your construction company](https://blog.lgt-cpa.com/blogarchive/financial-ratios-and-kpis-for-your-construction-company) Posted by Kyle Pacheco, CPA, CCIFP on Oct 24, 2019 [![Financial ratios and KPIs for your construction company](https://blog.lgt-cpa.com/hubfs/PS%20Assets/blog-files/PS%20featured%20images%202019/Construction-base_v2-1.png) ](https://blog.lgt-cpa.com/blogarchive/financial-ratios-and-kpis-for-your-construction-company) Financial statements are an essential part of understanding the operating results for every contractor. Between the balance sheet, income statement, and statement of cash flows, financial statements... [Read More](https://blog.lgt-cpa.com/blogarchive/financial-ratios-and-kpis-for-your-construction-company) 0 Comments [Click here to read/write comments](https://blog.lgt-cpa.com/blogarchive/financial-ratios-and-kpis-for-your-construction-company#comments-listing) Topics: [Construction](https://blog.lgt-cpa.com/blogarchive/topic/construction), [KPI](https://blog.lgt-cpa.com/blogarchive/topic/kpi), [Metrics](https://blog.lgt-cpa.com/blogarchive/topic/metrics) [All posts](https://blog.lgt-cpa.com/blogarchive/all) [Next](https://blog.lgt-cpa.com/blogarchive/topic/construction/page/2) **LGT's Profit Sense** Financial Tips from Your Trusted Advisor Keeping you up to date with: - [Tax Updates](https://www.lgt-cpa.com/tax-services) - [Changes in Accounting Standards](https://www.lgt-cpa.com/accountingconsultingservices) - [Financial Strategies](https://www.lgt-fa.com/) - [Retirement Planning ](https://www.lgt-fa.com/financial-planning.html) - [Industry Insight in: Construction, Healthcare, Not-for-Profit, Manufacturing, Distribution & Retail, Real Estate and Dealer Services](https://www.lgt-cpa.com/industries) ### Posts by Topic - 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