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 […]