Michael R. Wolf, CPA
Principal | Regional Director, HBK Construction Solutions |
Michael is a Principal in the King of Prussia, PA office of HBK CPAs & Consultants. He is the Mid-Atlantic Regional Director of HBK Construction Solutions, a team of specialists focused on contractors and their unique business needs.
Michael gained significant experience in the construction world early on in his career when he worked as a Senior Accountant and then as a Controller for a mid-sized construction company. Since then, he has been offering a variety of professional services to many construction-related businesses and development companies. Today, Michael is a member of the Construction Accounting Network (CAN), the Building Industry Association of Philadelphia, Associated Builders & Contractors, Inc., and the BDO Construction Industry Alliance. Highlights of the Michael’s work performed for construction clients include:
- Defining favorable service group classifications to help lower mod factors and significantly reduce workers’ compensation insurance premiums for clients.
- Redefining T & M rates used on contracts for underutilized equipment needed for emergency response work to insure profitability.
- Assisting in conversion to new accounting software packages to ensure a smooth transition.
- Helping in the interviewing and hiring process for key personnel, including controllers and CFOs.
- Assisting in preparation of formal budgets to compare to actual results on a monthly and year to date basis so that key executives could better manage their business.
- Assisting clients in determining the most favorable business entity structure/classification.
- Providing expert witness advice and testimonials for insurance claims resulting from the loss of business income from floods and fires.
- Assisting in establishing or improving internal controls processes and procedures.
- Assisting with the outsourcing of certain accounting responsibilities to reduce costs and improve operating efficiencies.
- Developing incentive-based compensation plans for estimators and project managers to ultimately bring more money to the bottom line.
- Benchmark reporting to compare clients’ financial results to those of their competition and the development and implementation of action plans to improve on specific areas.
- Bachelor of Science degree in Business (Accounting) from Hartwick College
- Certified QuickBooks Pro Advisor
- Member, American Institute of Certified Public Accountants (AICPA)
- Member, Pennsylvania Institute of Certified Public Accountants (PICPA)
- Member, Associated Builders & Contractors, Inc.
- Member, Construction Accounting Network (CAN)
- Member, Building Industry Association of Philadelphia
- Treasurer, Wissahickon Skating Club
- Finance Committee Member, Philadelphia Cricket Club