Accounting

Potential Tax Implications of ASC Topic 606: Revenue From Contracts With Customers

by RubinBrown LLP | Feb 2, 2020
Accounting | Business | Finance | Taxes

New revenue recognition standards under FASB Accounting Standards Codification Topic 606 require companies to adopt new methods to recognize revenue from contracts with customers for book purposes.

Prepare Now to Survive Unexpected Changes in the Construction Supply Chain

by Collin Ziemerink | Jan 30, 2020
Accounting | Business | Project Delivery | Project Management

A cultural change and willingness to embrace new processes will prepare the industry to meet rapidly growing demand, while reacting to inevitable disruptions in the global marketplace.

Considerations for Employee Benefit Audits

Construction firms can take precautionary steps to ensure successful employee benefit audits this year.

Timing Is Important in Reporting Profits and Losses

by Richard P. Higgins | Jan 14, 2020
Accounting | Risk Management | Safety | Taxes

The timing of reporting income or deferring costs can have a significant impact on a contractor’s income tax liability. Implementing tax planning strategies can make a big difference.

Deconstructing Slow Payments in Construction

by Will Mitchell | Jan 9, 2020
Accounting | Business | Finance

Subcontractors and general contractors include a combined average 5.3% overhead in project bids to finance slow payments. In 2019, this ultimately costs the construction industry an extra $64 billion. Here's how that can change.

Considerations When Balancing Strong Financial Statements and Tax Savings

by Robert Mercado, Taryn Smith | Dec 15, 2019
Accounting | Business | Finance | Taxes

Often, the primary focus for year-end is the tax liability based on the company’s annual earnings. However, sometimes the requirements for financial reporting purposes conflict with expectations regarding taxable income. Planning for this is essential.

Understand and Define Key Substantive Contract Provisions

Go into the next construction project understanding the meaning and impact of common construction contract provisions.

Manage Direct and Indirect Job Costs to Improve Profit Margins

by Donald J. Kaiser | Nov 29, 2019
Accounting | Business | Finance

Every project has direct and indirect costs. Direct costs include material, labor, equipment and subcontractor costs. Indirect costs include project and and general overhead.

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Potential Tax Implications of ASC Topic 606: Revenue From Contracts With Customers

Prepare Now to Survive Unexpected Changes in the Construction Supply Chain

Considerations for Employee Benefit Audits

Timing Is Important in Reporting Profits and Losses

Deconstructing Slow Payments in Construction

Considerations When Balancing Strong Financial Statements and Tax Savings

Understand and Define Key Substantive Contract Provisions

Manage Direct and Indirect Job Costs to Improve Profit Margins

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