Fine-tune equipment costing for a smoother-running company

Imagine you’re standing on the jobsite and someone says, “Nice piece of equipment. What did it cost you?” Your mind might immediately go to how much you paid for the asset in question. But, as you’re surely aware, contractors must continually account for the cost of their equipment over time. It’s a good idea to […]

Let’s talk about leases: New accounting standard to usher in significant changes

If your construction company leases assets and it follows U.S. Generally Accepted Accounting Principles (GAAP), an important development occurred earlier this year. The Financial Accounting Standards Board (FASB) issued its long-awaited update revising the appropriate treatment of leases on financial statements: Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842). Affected construction companies should start […]