New Accounting Standard – Are There Leases Hiding in Your Contracts?
Construction businesses with a calendar year end have until 2021 to implement Accounting Standards Codification (ASC) Topic 842, Leases, to stay in compliance with Generally Accepted Accounting Principles. This article explores one of the biggest new challenges: embedded leases. A sidebar provides a brief recap of the overall rule changes under ASC 842.
Respond Quickly to Succession Plan Troubles
Family-owned construction businesses often face distinctive challenges when it comes to succession planning. Emotions can run high, and the business owner’s lifelong working legacy may be at stake. This article discusses various ways to address succession planning concerns and conflicts.
Seven Tips for Avoiding Construction Disputes
A single construction dispute can turn a profitable job into a loss; multiple ones can put a contractor out of business. This article describes seven strategies for avoiding them, including careful drafting of contracts, adhering to accurate scheduling, and considering alternative delivery approaches.
The Potential of Robotic Process Automation
Robotic process automation (RPA) refers to software tools that automate repetitive, rule-based human tasks. Examples include creating invoices, managing documents and performing certain HR tasks. This article looks into potential uses of RPA for construction companies.
Santora CPA Group 2017. All rights reserved. Santora CPA Group is a Delaware certified public accounting and consulting firm offering a range of professional services to businesses, nonprofits, and individuals. These services include Tax Preparation and Planning; Accounting and Auditing; Bookkeeping and Payroll; HR Consulting and Employee Training; Litigation Support; Forensic Accounting; Business Consulting and Valuations; Fraud Prevention and Detection; and Delaware Administrative Trustee Services. Santora CPA Group is an equal opportunity employer.