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  1. ArchDaily
  2. Profitability

Profitability: The Latest Architecture and News

Getting the Data You Need to Run a Successful Firm

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When your firm adopts project accounting—the practice of accounting on a project-by-project basis—you’ll get insights that’ll change the way you do business. You’ll understand your projects, employees, clients, and firm on a deeper level, and you’ll be able to make changes that will dramatically increase efficiency and profits.

Before this happens, though, you need to lay the groundwork. With the right tools, logging and making sense of the data you need is convenient and easy. You just have to be consistent.

Why an Accounting Method Will Change the Way You Work

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A discipline like accounting might seem very different from the world of architecture. In architecture, creativity is revered, but in accounting, it usually entails fraud. Still, you can’t work if your firm is failing, and accounting is vital to success. Beyond the upkeep of your business, though, there are other ways that accounting can affect your work in a meaningful way.