Architecture & Engineering
Just as clients rely on you for your knowledge of the design and building process, you can depend on Citrin Cooperman for our understanding of the accounting and financial needs of professional design firms.
Besides preparing timely, understandable financial statements, you will also receive management advice that is clear, insightful and on point. Working closely with you, our professionals will assess your tax situation and recommend tax minimization strategies that best suit your unique needs and reduce your tax liability.
As business advisors, we will consult with you throughout the year on areas critical to the growth and profitability of your practice and its future success. Our industry experts will also help you develop, calculate, understand and utilize the following concepts unique to your business.
Our services include:
- Percentage completion methology
- Revenue recognition under pecentage of completion
- Overhead rate calculations of completion
- Compute and analyze:
- Billing multiples
- Overhead rate
- Direct salaries and utilization rate
- Project profitability
- Profit as a function of net fee income
- Profit per direct labor hour
- International expansion strategies
- Research and development tax credits
- Energy-efficient building design tax credits
- Succession planning
- Mergers and acquisition consulting
- Entity selection and corporate restructuring
- Multi-state tax services
- Cash flow and financial consulting
- Software selection
While many accountants can prepare tax returns and financial statements, only a select few have the specialized expertise and knowledge required to truly advise professional design firms. With over 30 years of experience, Citrin Cooperman has become the professionals of choice.