As contractors continue to work back toward normalcy, it’s critical to learn from recent experience and apply those lessons to put a plan in place for the future.
Crisis Preparation: Have a Plan in Place for the Future
Tag: contractor
The Nuts and Bolts of the New Revenue Recognition Standards: An Overview for Contractors
New revenue recognition standards for contractors seem pretty simple until you start thinking about some of the complexities inherent in construction contracts. Let’s take a …
Understanding the Job Schedule: Accounting for Contract Costs
Errors in allocating contract costs on the job schedule can produce some unpleasant surprises. Sometimes when financial statements are audited according to U.S. generally accepted …
Understanding the Job Schedule: Realistic Estimates are Essential
The job schedule can help you do a better job of analyzing and improving your company’s performance, but it is essential that the cost estimates on the schedule be as realistic …
Understanding the Basics of the Job Schedule: Work in Progress
If your company needs to submit financial statements for bonding, you typically are required to submit a job schedule, which includes a list of all jobs open at the end of the …
Big Changes for Pass-Through Entities
One of the most talked-about and Jobs Act is the 20 percent deduction on pass-through income from sole proprietorships, partnerships, S corporations, and LLCs. Because so many …