Construction & Real Estate 

Honkamp specializes in serving clients in construction, real estate and related industries.

Our knowledge of the industry benefits our clients when it comes to standard services such as audits, reviews, compilations, tax planning and tax preparation. Our expertise also allows us to offer more specialized services such as assistance in preparing a work-in-progress (WIP) schedule, developing accounting procedures and policies, and other advisory services.

In fact, we advise and assist more clients in the construction industry than any other industry. We work with firms ranging from $1 million specialty contractors to $400 million construction companies.

Our team can provide consultation from both a historical perspective, utilizing your financial reporting and tax returns, as well as a forward-looking approach that applies strategic planning, financial analysis and modeling, and industry benchmarking.

With Honkamp, you will work with specialists who are immersed in the industry. Our staff are among the leaders of local Construction Financial Management Association (CFMA) chapters, and Honkamp has more certified construction industry financial professionals (CCIFPs) than any other Iowa-based firm.

We also dedicate time to continuing education and industry participation through memberships in the Associated General Contractors (AGC) and Associated Builders and Contractors (ABC).

Honkamp also is a member of CICPAC, a leading association for CPAs and consultants for the U.S. construction industry. Our firm is one of less than 80 nationwide in CICPAC – and just the second such firm to be headquartered in Iowa. Its member accounting firms can connect and share resources, as well as implement new initiatives to serve our clients in the industry.


Real Estate

If you choose to partner with Honkamp for your real estate business needs, you are choosing a firm that has firsthand experience with commercial and residential real estate ownership. We truly understand the real estate business, and we monitor trends through our multiple resources.

Here are some ways in which we serve the construction industry:

  • Delivering accurate monthly journal entries to track your key metrics, from depreciation and amortization to payroll and prepaids 
  • Providing project cost reviews related to subcontractors, equipment, labor, material and more to allow you to identify any issues on a project sooner
  • Monitoring your fixed assets, including additions and disposals, to keep your financial statements “clean” and accurate
  • Tracking key performance indicators to determine how your company compares to your target and to industry benchmarks
  • Mentoring and offering guidance to new controllers and CFOs
  • Creating and reviewing WIP (work-in-progress) reports to analyze how your jobs are trending compared to projections 
    and determine whether adjustments are needed
  • Assessing your overhead/indirect cost allocations and determining your “burden rate”
  • Evaluating your processes and procedures to identify opportunities for improvement and efficiencies
  • Choosing and implementing the best software/technology for your operation
  • Recommending tax accounting methods to maximize income deferral opportunities

Construction industry economic newsletters:

Construction industry economic report - August 2024 (honkamp.com)
Construction industry economic newsletter - Q1 2024 (honkamp.com)
Compensation Reports for Key Construction Positions (honkamp.com)