While there are countless ways for a business to fail, many of the most common causes stem from poor financial management. Construction firms are no exception.

Underscoring these hardships, Bloomberg BNA’s 2014 survey of 200 in-house tax and accounting professionals found that construction and manufacturing firms are the most likely to experience procedural accounting and tax errors.

It is surprisingly easy to treat your finances as an afterthought, but accurate financial reporting is particularly important in an industry characterized by slim profit margins and a high degree of uncertainty.

Read the full article on Construction Today here.