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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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Why Your Construction Company Needs Bookkeeping

Contractor Bookkeeping

It is important to compare your results to industry standards to determine where you need to improve your contracting company business model. Bankers and lenders want to see consistency, so use a construction accounting software like QuickBooks, Dexter+Chaney, Maxwell, ComputerEase or something similar. See more at: [link].