Construction & Related Services

Changes to the Requirement for Consolidating VIEs

By Linda Marie Pearson, CPA, CFE, Principal FASB has just amended the FASB Accounting Standards Codification (ASC) related to the requirement for consolidating VIEs.  FASB issued Accounting Standards Update No. 2018-17, Consolidation (Topic 810) to communicate how the ASC was amended. Here is what you need to know about the...

Study Shows Controls Can Reduce Losses

By Jason DaPonte, CPA, CCIFP, CIT, Managing Partner None of us like to think that our own employees could steal from the company, but the risk of fraud is an unfortunate fact of life for any contractor. According to a recently released study by the Association of Certified Fraud...

Third Quarter 2018: Key Deadlines for Businesses

Third Quarter 2018

2018 Q3 Tax Calendar Here are some of the key tax-related deadlines affecting businesses and other employers for reporting second and/or third quarter filings of 2018. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us at 401-331-0500 to...

Reviewing Asset Protection

Reviewing Asset Protection

Good Insurance Is Just the Beginning For many contractors, any discussion about asset protection revolves primarily around various types of insurance. While insurance is a critical component of an asset protection program, it’s only part of a larger, more comprehensive effort. If you haven’t reviewed your company’s asset protection strategy...

The Tax Reform Act: An Overview of Provisions Affecting Contractors

Contractor Tax Reform

The Tax Cuts and Jobs Act signed into law in late December has been described as the most sweeping tax overhaul in more than 30 years. But the effects go far beyond taxes alone. Many of the new law’s provisions could also affect how you organize and manage your construction-related...

FASB Improves Accounting Related to the Tax Cuts & Jobs Act

FASB Improves Accounting

The Financial Accounting Standards Board (FASB) addressed an accounting issue created by the Tax Cuts & Jobs Act by releasing FASB Accounting Standards Update (ASU) 2018-02, Income Statement – Reporting Comprehensive Income. This ASU addresses an accounting issue having been coined the name “the stranded tax effect” and is...

January 2018 Construction News Brief – Disaster Recovery Plan

Lessons from 2017: Disaster Recovery and Business Continuity Planning With hurricanes, floods, wildfires and other natural disasters, the past year has offered plenty of lessons about the importance of being prepared for unexpected business disruptions. Despite frequent reminders, many businesses remain unprepared for the unexpected. According to one major insurance company,...

The Value of the Governor’s Workforce Training Grants

-by Michael DeCataldo, CPA/PFS, CFP®, MST, Managing Partner As the business climate continually changes, companies often need to train their employees to allow their business to meet new challenges. Developing your employees’ skills can position your business to take advantage of opportunities and remain competitive and successful in the year...