How To Calculate WIPAA
How To Calculate The Work In Progress Accounting Adjustment For A Building Company
"91.1% of builders are either calculating Work In Progress incorrectly or not calculating it at all."
- The State of Residential Construction Industry (SORCI) Report 2023
Work In Progress is the most misunderstood number in the construction industry and it's responsible for hundreds of builders losing money year after year.
If you are calculating Work In Progress incorrectly, you could be seriously overstating your profits and paying tax on profits you didn’t actually make!
The most concerning part? Many accountants don’t even know how to calculate this number correctly for a building company.
Calculating Work In Progress every month is critical in residential construction. You need to ensure your building company has enough cash on hand to cover that liability, which can exceed $250,000 for a building company with annual sales of just $3 million.
If you calculate your Work In Progress figure and do not have enough cash to cover the liability, things can take a turn very quickly…
And that’s why we created a coaching program for members of the Association of Professional Builders covering how to calculate the work in progress accounting adjustment for a building company.
When you have it you'll discover...
- How to produce monthly financial reports that are 100% accurate without using a bookkeeper.
- The difference between ‘Workflow’ and ‘Work In Progress’ (hint: It’s not what you think)!
- The #1 secret that the world’s most successful builders are using to stay in business for 20+ years.
- The one tool virtually every successful builder uses on a monthly basis (and how you can download it for free).
- How to take control of your building company’s future and avoid feeling confused about your financial position.
- Why you should STOP relying on your accountant to calculate work in progress immediately!
- How to determine the exact net worth of your building company and avoid relying on your accountant to tell you.
"It's Like Netflix For Builders"
As well as the course covering how to calculate the work in progress accounting adjustment for a building company, you also get instant access to all of these great courses when you become a member of the Association of Professional Builders.
Other Courses Included With APB Membership
"One in four startups close down within their first year, in many cases due to poor financial management."
- Australian Bureau of Statistics
When it comes to calculating WIPAA, you have two options.
Option one is to spend hours of your valuable time trying to figure out what works through trial and error...
Alternatively, you can take the easy option and follow a step-by-step guide with downloadable templates for less money than it costs most builders to acquire a single lead!
And you have a money-back guarantee so there is no risk to you whatsoever!
You can go through the course at your own speed and ask questions from inside the portal.
Don’t miss out!
Click on the button below to join the Association of Professional Builders today!
But don't just take our word for it, check out what these builders think of the information waiting for you inside the Association of Professional Builders...
You're not alone.
When you join the Association of Professional Builders you can connect with other like-minded professional builders from Australia, New Zealand, Canada and the USA in our private members only Facebook group.
Your Coach
Rick Moore has been at the forefront of steering businesses that have collectively amassed a staggering market capitalisation exceeding $3 billion CDN, served as the CEO of the Canadian division of the world’s largest business coaching company, and is the author of “Scale-Up to Sell,” sharing his insights derived from his experiences, and his CEPA designation in exit planning underscores his commitment to guiding ventures towards successful transitions.
Course Curriculum
