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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
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Construction Business Owner Blogs

Construction Business Owner

Resource Center. Bank lines of credit are lifelines for many contractors, yet convincing a bank to provide or renegotiate a line of credit is not easy. Building your case beforehand can certainly help and makes you look better in the eyes of the bank. Crunch the numbers – Banks like proactive business owners.

Banking 120
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Types of Capital for Construction Businesses

Levelset

Joshua Leyenhorst, a CPA at BasePoint who has worked with many construction companies, defines capital like this: “Capital is all of the financial resources available to start or maintain a construction company, including working capital, debt capital, and equity capital.” 3 types of capital for construction. Debt capital.

Debt 97
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Construction Bookkeeping Unique Features

Contractor Bookkeeping

Bank Balance - Un-cleared Checks) = Cash. Assets - Liabilities) = Equity. -. Think of it like shooting a movie on location without all the glamor, resources and money to go with it. Bank Account - Escrow Deposits. Bank Account - Operating. Bank Account - Job Deposits. Bank Account - Payroll.

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Construction Business Owner Blogs

Construction Business Owner

Resource Center. Anyone working in accounting or human resources has access to immense amounts of personal data. For example, banks and other financial institutions put in stronger measures than many other industries. Public Exposure and Liability on Construction Sites. Accounting & Finance. Construction Law.

Security 120
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Construction Business Owner Blogs

Construction Business Owner

Resource Center. Mr. Rattner discussed the stress tests given by the Treasury Department to large banks that were receiving TARP funds. What would you do next week if you lost that job you had been banking on? Public Exposure and Liability on Construction Sites. Accounting & Finance. Construction Law. People Management.

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Unique Tips To Reduce Construction Company Start Up Stress

Contractor Bookkeeping

Go To Your Bank - And they offer you a line of credit. Bank Accounts - Set up two bank accounts in your company name. The second bank account is for your debit card you keep in your wallet and has no more than $500 or whatever you need for small purchases during the week. It is a must have to borrow money from a bank.