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/Q02mNSsG0INSIDE 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 SKARDAHead 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 missingLINKS, RESOURCES & MOREAPB Website: associationofprofessionalbuilders.comAPB Rewards: associationofprofessionalbuilders.com/rewards/APB on Instagram: instagram.com/apbbuilders/APB on Facebook: facebook.com/associationofprofessionalbuildersAPB on YouTube: youtube.com/c/associationofprofessionalbuilders