How to Make a Construction Statement Template Using Google Docs?
When making a statement, we want to make it accurate and correctly done by following safe methods and data. A careful analysis of financial reports is the basis of this activity. However, creating documents from scratch may be a daunting task, even for experts and professionals. With our collection, forget about making a document from scratch and focus on creating accurate financial calculations. You can also refer to our steps below for a DIY approach to building your construction business or company's statement templates.
1. Create a New File and Add Company Overview
Visit the Google Docs site and choose a "blank" document. Double-click on the top of the page, and set an appropriate title for the paper and a company overview. Make a description as comprehensive as you can.
2. Gather All Balance Sheets
Collect all of the essential financial documents gathered throughout the fiscal year. Ask for access to your company's financial records such as receipts, assets and liabilities, profit and loss statements, and more. Get ahold of these essential documents, so you can sufficiently report them in your income statement.
3. Draft Your Income Statement
Before you can create a financial statement, you have to make an income statement for each month or quarter first. With the essential documents that you have gathered, meticulously write them in your income statement.
4. Calculate Your Income Tax
Now that you know the company's income, the next thing you need to do is calculate your company's income tax. Adjust your gross income to the adjusted gross income. Remember that each country and each state has different calculations for these, so do your research. You can then create itemized or standard deductions that your company may qualify for to get the taxable income.
5. Draft Your Cash Flow Statement
Identify the operating, investing, and financing activities. Then, itemize each deduction and net increases under each activity. Once you get the net change in cash and cash equivalent, you should now be ready to create your financial statement.
What is the statement of work?
It's a document that gives details on the work requirements, including timelines and deliverables.
How big is the construction industry in the USA?
The website, Statista, said that expenditures in the construction industry in the USA reach about $1,293 billion, making the country one of the largest construction industries worldwide.
What are the most popular types of construction jobs?
According to the website, Zip Recruiter, the following are the most popular types of construction jobs:
1. Project Engineer
2. Construction Estimator
6. Project Electrician
7. Construction Inspector
8. Construction Laborer
9. Equipment Operator
10. Construction Superintendent
How important are financial statements in the construction industry?
Construction is a booming industry. A financial statement on your construction business allows you to:
1. Get an idea of the status of the business
2. Help solve potential financial problems in the future
3. Calculate the amount to spend on urgent matters
4. Make more beneficial decisions for the company
How much do you earn in the construction industry?
It depends on your position. A construction estimator in the USA earns about $70,549 annually, according to the website Zippia.