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6 Benefits of Contractor Management Services

Safety Services Company

Navigating the world of ever changing contractor regulations and qualifications can be difficult. As a contractor, you’re required to demonstrate your skills and prove your expertise through multiple means, like contractor compliance and job prequalification. What are Contractor Management Services?

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3 Keys for Contractors to Navigate New Revenue Recognition Standards

Viewpoint Construction Technology

Revenue recognition standards were recently updated by the Financial Accounting Standards Board , and these updates will have an impact in the construction industry. To help contractors prepare, Viewpoint recently hosted a webinar on how contractors can get ready for the new standards. So where should contractors start?

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

Construction Business Owner

It is time for contractors to get serious about the new accounting lease standard. It is time for contractors to get serious about the FASB ASU 2016?02 02 ASC 842 Leases, the new lease accounting standard issued by the Financial Accounting Standards Board (FASB). Determine how to account for each lease.

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A Guide to Contractor Management and Prequalification

Safety Services Company

As suppliers, contractors are expected to demonstrate their training and expertise by adhering to prequalifications requirements. Contractor prequalifications are third-party audits and certifications that serve as proof of skill, dedication to maintaining safe working conditions, and adherence to regulations like OSHA.

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Preventing Falls: How Contractors can Master Ladder Safety One Step at a Time

Safety Services Company

So, with falls being a fear for contractors, initiatives like National Ladder Safety Month are vital. In this blog, let’s break down the major causes of ladder-related injuries, the safety essentials for contractors, and how to ensure safety and compliance for your workers at all times! Ladders are no exception.

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5 Ways to Prepare for New Revenue Recognition Standards

Viewpoint Construction Technology

Contractors today deal with challenging projects, often with multiple performance obligations. The new GAAP revenue recognition standards developed by the Financial Accounting Standards Board are here, and these standards are designed with complex projects in mind. Here are some of the important steps: . Identify the Contract.

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7 Things Contractors Need to Know About Retainage

Fieldwire

Construction is one of the hardest industries to manage cash flow in, with contractors often facing large up-front costs and frequent, long delays between expenses and payment. The industry’s retainage practices throw another wrinkle into the process.