article thumbnail

The Impact of ASC 842 – The New Lease Standard Is Here

Construction Business Owner

The contractor’s focus should be on the impact the lease standard will have on the company, specifically bank and surety considerations, and the specific attributes such as embedded leases, related party leases, consolidation (when there is a variable interest entity), and how to apply the standard to these situations. Accounting & Finance.

Leases 177
article thumbnail

How to Deal with Extended Lead Times and High Material Costs

Levelset

Contractors report that supply chain disruptions impact inventory and their ability to forecast for the future. According to the 2022 Construction Cash Flow & Payment Report , construction businesses reported slow payments contributed to wasted resources (45%), reduced profit (41%), and failure to meet payroll (18%). .

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Cloud-based technology facilitates the work process of building contractors

Construction Cost Estimating

The software contains a wide array of business management solutions which range from job cost, project management, equipment management, payroll, purchasing, inventory, and much more.

article thumbnail

Types of Capital for Construction Businesses

Levelset

The term capital is used across industries to represent all of a company’s financial assets, including cash, inventory, equipment, and more. “Working capital evaluates the financial resources a company requires to operate the company,” notes Joshua Leyenhorst. 3 types of capital for construction. Debt capital.

Debt 97
article thumbnail

Plane travel and coronavirus: People are missing travel so much, they’re getting airline food delivered

Construction Test

Its imperfection: It is excess inventory. JetBlue has donated leftover inventory of snacks to Feeding America and other food banks, as well as hospitals. And United has donated 173,000 pounds of food to food banks and charities, pulling from airport lounges and catering kitchens. This, however, is a first. May 4, 2020.

Travel 26
article thumbnail

Optimize Vs. Maximize Construction Company Production

Contractor Bookkeeping

It sounds crazy but look around you some of your competitors are laughing all the way to the bank and you can too! "If We Have Hundreds of fast, easy and safe ways that can increase your company profits and put more money in the bank to operate and grow your business. It is all about having a Strategy That Works!

article thumbnail

Spec Home Builders Have Unique Bookkeeping Needs

Contractor Bookkeeping

Spec Home Builders - Need people trained in construction bookkeeping who understand how to put together a bank draw correctly, not someone with experience in regular bookkeeping. Construction Marketing Resources. We know what to do! Five Key Performance Indicator Reports for monitoring your business. Business Processes Management.

Banking 54