Remove Accounting Remove Banking Remove FASB
article thumbnail

The Impact of ASC 842 – The New Lease Standard Is Here

Construction Business Owner

It is time for contractors to get serious about the new accounting lease standard. It is time for contractors to get serious about the FASB ASU 2016?02 02 ASC 842 Leases, the new lease accounting standard issued by the Financial Accounting Standards Board (FASB). Determine how to account for each lease.

Leases 177
article thumbnail

Why Your Construction Company Needs Bookkeeping

Contractor Bookkeeping

Since 1973, the Financial Accounting Standards Board (FASB) has been the designated organization in the private sector for establishing standards of financial accounting that govern the preparation of financial reports by nongovernmental entities. - See more at: [link].