Protect Construction Finances by Controlling Occupational Fraud
Establish protection and detection policies to limit exposure and losses by having zero tolerance for fraud. Swindlers will be more hesitant to commit fraud if they
The Lease Accounting Fallout From COVID-19
Many contractors were relieved that due to COVID-19, the FASB issued an ASU on June 3 that granted a one-year effective date delay for applying the lease accounting
The Impact of COVID-19 on the Lease Accounting Standard
COVID-19 is impacting leases in a variety of ways. Thankfully, FASB granted a one-year delay for applying ASC Topic 842, Leases.
FASB Defers the Effective Date for the Revenue Recognition and Lease Accounting Standards in Response to COVID-19
Due to the stress of coronavirus, FASB issued an ASU that grants a one-year effective date delay for certain companies and organizations applying the revenue recognition
G&A Expenses: A Guide to Allocating Overhead Costs
Smart contractors understand the relationship between overhead costs and job profitability. Contractors that ignore these costs or fail to allocate them to each
Financial Statement Basics: What a Contractor Needs to Know for Surety Bonding
When evaluating a contractor for surety credit, sureties look for the three Cs: character, capacity and capital, to form an opinion on a contractor’s past, current
Six Tax and Surety Considerations for the New Lease Accounting Standard
Contractors should discuss how changing accounting methods, tax planning and complying with the lease accounting standard will impact current and future surety agreements