Michael R. Wolf, CPA
Principal | Blue Bell, Pennsylvania
Michael is a Principal of HBK CPAs & Consultants and works primarily out of the Blue Bell, PA office. He leads HBK’s Construction Industry Group in the Mid-Atlantic Region and works closely with core members of the group from the firm’s other regions of service.
Michael is a member of the Construction Accounting Network (CAN), the Building Industry Association of Philadelphia and the BDO Construction Industry Alliance.
Michael has represented several union organizations over the years, including many separate chapters of the International Brotherhood of Electrical Workers (IBEW). He has honed his expertise through several years of experience that includes work as a controller and general manager of several mid-sized construction contractors as well as offering related professional services to a host of construction-related businesses and real-estate and building developers.
Highlights from his career as a Construction Industry Group specialist in accounting includes helping clients:
- Define service group classifications and help lower mod factors to reduce worker compensation insurance premiums by significant amounts
- Clearly distinguishing higher T & M rates used on specific contracts for underutilized equipment needed for emergency spill responses
- Assistance in selecting and executing accounting software packages for better job costing and % of completion reporting capabilities
- Helping with the hiring process for controllers and CFOs
- Assistance in preparing annual budgets to help easily identify budgeted vs. actual revenues (etc.) and related reporting
- Helping review and consult on contracts and legal documents including partnership and operating agreements, buy/sell agreements
- Assisting with insurance claim calculations for loss of business income for flood and fire claims
- Establishing internal controls and procedures to help safeguard assets
- Helping to select and implement sophisticated inventory accounting systems/modules
- Assisting with pooling of indirect costs and outsourcing certain responsibilities as they benefit the company in reduced expenses and increased efficiencies
- Working closely with banks on a client’s behalf to help establish reasonable debt covenant for loans
- Working directly with surety/bonding companies to assure bonding of certain jobs
- Training and educating estimators and project managers help implement incentive-based bonus plans for cases that are completed under budget
- Bachelor of Science degree in Business (Accounting) from Hartwick College - May, 1986
- Certified QuickBooks Pro Advisor since 1998
- Member, Pennsylvania Institute of Certified Public Accountants (PICPA)
- Member, American Institute of Certified Public Accountants (AICPA)