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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.

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3 Keys for Contractors to Navigate New Revenue Recognition Standards

Viewpoint Construction Technology

Revenue recognition standards were recently updated by the Financial Accounting Standards Board , and these updates will have an impact in the construction industry. To help contractors prepare, Viewpoint recently hosted a webinar on how contractors can get ready for the new standards. So where should contractors start?

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5 Ways to Prepare for New Revenue Recognition Standards

Viewpoint Construction Technology

Contractors today deal with challenging projects, often with multiple performance obligations. The new GAAP revenue recognition standards developed by the Financial Accounting Standards Board are here, and these standards are designed with complex projects in mind. Here are some of the important steps: . Identify the Contract.

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Generative AI can bolster innovation in construction industry

BD+C

Jeff Danley Contractors AEC Tech The past year has seen a wave of layoffs across the tech sector, but technologists, computer scientists, and software engineers have a new skip in their step. This nascent technology will influence everything from healthcare to education and finance, and one industry that can’t be overlooked is construction.

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What is the Difference Between ‘Hard Costs’ and ‘Soft Costs’ in Construction: A Detailed Comparison

Building Radar

Labor : Payments made to construction workers, contractors, and subcontractors. Permits and Legal Fees : Costs related to obtaining necessary permits and covering legal requirements. Financing : Interest on loans or other financial instruments used to fund the project.

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Virtue signallers beware

Construction Law

ICE’s report says accurate emissions reporting must become integral in the design of major infrastructure if private finance is to help fund green projects. It also says that strict benchmarks and assessment criteria will soon require civil engineers to account for the carbon output and sustainability of the infrastructure they design.

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Construction Business Owner Blogs

Construction Business Owner

ACCOUNTING |. Accounting & Finance. » Contractors Seeking Credit Should Prepare to be Prepared. Mountjoy, Chilton, Medley LLP is a CPA firm with a team of accountants dedicated to construction accounting. STRATEGY |. MANAGEMENT |. SOFTWARE |. MARKETING |. INSURANCE |. EQUIPMENT |. General Management.

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