Construction & Related Services

Delayed Implementation Date for Some

The Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2017-13, Revenue Recognition (Topic 605), Revenue from Contracts with Customers (Topic 606), Leases (Topic 840), and Leases (Topic 842) which allows for a later adoption of the revenue and lease ASU's. This option is made only to businesses...

R&D Tax Credit: Could Your Company Qualify?

R and D Tax Credit

Is your company overlooking a potentially lucrative tax credit? Many contractors don’t realize that some of the work they do might qualify for the federal Credit for Increasing Research Activities, more commonly referred to as the R&D tax credit. In fact, some experts estimate that less than a third of...

AICPA Addresses Three Revenue Recognition Implementation Issues

-by Andrew de Labry, CPA In May 2014 the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606), which outlines a single comprehensive model to use in accounting for revenue arising from contracts with customers. The ASU supersedes and replaces nearly...

Even in Good Times Watch Overhead

Watch Overhead, manage Overhead

By almost every indicator, now is the time for construction businesses to be gearing up for growth and, ironically, keeping an eye out on overhead. For example: The U.S. Department of Commerce expects total annual construction spending in the U.S. will top $1.19 trillion in 2017. This is up more than...

June 2017 Construction News Brief

Are Changes in Store at OSHA? The change of administrations in Washington, D.C., has triggered many questions over the future direction of the Occupational Safety and Health Administration (OSHA). The worker safety agency has always focused closely on the construction industry, which accounted for 21.4 percent of all fatal workplace...

OSHA’s Top 10 Violations and “Fatal Four” Hazards

Roofer, OSHA Violations and Hazards

Focus on Safety According to the U.S. Bureau of Labor Statistics, a total of 4,379 fatal workplace injuries were recorded in private U.S. industry in 2015. One out of five deaths — or 937 of them — occurred in the construction industry. This represents a slight increase over the previous...

Are Changes in Store at OSHA?

Work Injury Claim, OSHA Reporting

The change of administrations in Washington, D.C., has triggered many questions over the future direction of the Occupational Safety and Health Administration (OSHA). The worker safety agency has always focused closely on the construction industry, which accounted for 21.4 percent of all fatal workplace injuries in private industry in 2015....