December 07, 2018
Taylor Porter partnered with LaPorte CPAs & Business Advisors and consulting firm VGraham, LLC, to host "Mastering the WIP Schedule," a construction seminar for 50 professionals representing more than 30 companies in the industry. The seminar was held at Taylor Porter on Dec. 7, and included a two-hour discussion on the Work in Progress (WIP) schedule and how it affects company performance.
The lead presenters included Taylor Porter Partner and construction attorney John Stone Campbell III; Daniel Williams, CPA, and director of audit services for LaPorte CPAs & Business Advisors; and Vanessa Graham, Managing Partner of VGraham, LLC. Campbell discussed, "Payments to Subcontractors, Legal Requirements and Issue Resolution." Williams presented, "Revenue Recognition Standards," and common problems encountered and best practices when preparing a WIP. Graham talked about how the WIP works, how the schedule speaks to cash flow and job profitability, and how the WIP ties back to company financials.
Practicing law since 1995, Campbell is engaged primarily in a litigation practice and serves as the co-chair of the firm's professional liability, insurance, casualty, product liability and personal injury litigation practice. In the last several years, his work has mainly involved commercial litigation, construction litigation, real estate litigation, class actions, admiralty and maritime cases, premises liability and general tort litigation, and insurance coverage and litigation. Taylor Porter’s construction lawyers routinely represent and advise local, state and national construction industry leaders, including owners, general contractors, subcontractors, homebuilders, architects, engineers, material and equipment suppliers, and manufacturers. From construction defect litigation to disputes over nonpayment, from mechanic’s liens and bond claims to construction delay claims, from contract negotiations and reviews to public bidding law disputes, the Firm’s construction lawyers have experience in the various legal issues facing the construction industry.
Williams has more than a decade of public accounting experience and works in LaPorte’s Construction Industry Group and the EmployeeBenefit Plan Service Group. He provides audit and consulting services to a wide range of construction clients, including commercial general contractors, heavy highway, shipbuilders, and specialty trades. He assists his clients with implementing best practices in percentage of completion accounting, internal cost controls, job cost allocations, industry benchmarking analyses, and other relevant services.
Graham, owner of VGraham, LLC, began her practice in 2012 with an objective to serve and support local business owners in meeting their growth goals and overcoming challenges through business cycles. Graham has more than 20 years of experience as Chief Financial Officer and Controller for small to medium size businesses in the Baton Rouge area, working with business owners and private equity investors in their portfolio companies.