179. WIPAA, The Builder's Blindspot With Andy Skarda

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).

This episode is sponsored by Apparatus Contractor Services, click the link below to learn more:hubs.ly/Q02mNSsG0

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.

ABOUT ANDY SKARDA

Head Coach at the Association of Professional Builders, Andy specialises in 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: linkedin.com/in/andy-skarda-92a6875/

TIMELINE

• 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

LINKS, RESOURCES & MORE

APB Website: associationofprofessionalbuilders.com

APB Rewards: associationofprofessionalbuilders.com/rewards/

APB on Instagram: instagram.com/apbbuilders/

APB on Facebook: facebook.com/associationofprofessionalbuilders

APB on YouTube: youtube.com/c/associationofprofessionalbuilders