Lease accounting for contractors

The wait is over. While there was a sliver of hope that private companies would not have to implement the new leasing standard, the day of reckoning has arrived.  On January 1, 2022, Accounting Standards Codification (ASC) 842, Leases became effective for privately held companies with December 31 year ends. This could have a significant …

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Better fade and gain tools to monitor construction contracts

One of the important trends for contractors of all type is to monitor construction contracts fade or gain. This is an analysis, by contract, of evaluating your original estimated gross profit against your current or final estimated gross profit. Jobs that improve their margins from the original estimate are considered contract gains, and conversely jobs …

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