Aug 8, 2022

The Prosperity Report – 30 yrs of Profitability Insights for Contractors, with Guest Warren Hennagin, CPA

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What financial and labor practices set truly successful contractors apart?

Our guest is Warren Hennagin CPA, MST, CCIFP, CGMA – a Partner and the Construction Practice Leader for California at Marcum LLP. He is also the past president of CICPAC, a national association of 75+ accounting & CPA firms serving over 11,000 construction companies.

With 30 years of financial experience in the construction industry, Warren also provides computer and management consulting services, as well as quality and internal controls to manufacturing and service-focused businesses.

Listen in as FDP Founder and Chief Prosperity Officer Mark Chandik explores with Warren.

Topics Discussed

  • 2:25 Do Contractors Need A Very Detailed Financial Statement for Bonding?
  • 3:29 Looking at Cash Flow, Cash is King?
  • 3:50 What Do Successful Contractors Have In Common
  • 5:11 What Should Contractors be Aware of When Working in Different Jurisdictions?
  • 6:03 What is the Secret Sauce of a Successful Contractor?
  • 7:57 New Ways Contractors are Finding Good Employees
  • 9:09 What New Tax Credits Should Contractors Know?
  • 15:10 What Are the Different Accounting Methods a Contractor Uses
  • 19:23 Working with Union vs Non-Union Contractors

About the FDP Prosperity Report

Prosperity is more than a number. It's the power to shape what is possible for you, your family and your heirs. On the Prosperity Report you can learn ideas for building wealth, safeguarding it, and translating it into true prosperity with insights from actual business owners and financial professionals.

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