Our Services
Construction & QBCC
Our expertise. Your success.
Demystifying the issues. Building great solutions.
Whether commercial, residential or contractor, we understand the day-to-day issues impacting your business. Everything from WIP reporting, employee-contractor reviews, through to QBCC Tribunal support, we have the experience and knowledge to help you navigate the challenges this industry faces.
Specialist advisors
QBCC Structuring & Licensing
We’ve been working with businesses to ensure they meet the QBCC financial requirements since they commenced in 1999. The structure your operate your business from has significant implications when meeting the QBCC Financial Requirements. We work with your and your advisors to optimise your business structure and give your business the best chance of meeting QBCC requirements.
Expert advisors
QBCC Audit or Suspension?
Our specialist knowledge of the financial requirements combined with our years of experience dealing with the QBCC allows us to guide you and your advisors through the process. We provide practical advice and real solutions to drive the best possible outcome.
EXPERT KNOWLEDGE
Work in Progress.
Part Art. Part Science.
What is Work in Progress (WIP)? It’s a key calculation (or valuation) that “true-ups” your revenue against your costs to reflect progress on a job or jobs at a point in time. There are a number of methodologies, and many businesses will have over-arching profit recognition policies to ensure a conservative uptake of profit or margin. Being forecast based, there is an element of subjectiveness to WIP, hence the “part art”, part science” label.
Given how critical a WIP calculation is to most construction industry businesses, it’s surprising how poorly it is understood. We’re able to assist you with developing a WIP methodology in language you understand, tailored to your business.
We’re advisors to advisors
We understand the building & construction industry
The building and construction industry is often turbulent. Understanding the regulations alone would be challenging for most businesses and their advisors. With over 40 years’ experience in Tier 1, Tier 2 and mining services – there isn’t much we haven’t seen or done.
Contact us today
L4, 183 North Quay, Brisbane
07 3096 0480
[email protected]
© Mage Advisory, 2019. ABN 72 626 661 087
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