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Accounting for Retention Receivable & Payable: A Contractor’s Guide

Levelset

Both retention accounts are shown as current assets and current liabilities, respectively. Plus, not recording retention payable leads to the understating of a company’s liabilities. Debit Credit Bank or cash $90,000 Retention receivable $90,000. Debit Credit Bank or cash $10,000 Retention receivable $10,000.

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Construction Business Owner Blogs

Construction Business Owner

MANAGEMENT |. General Management. People Management. Equipment Management. Bank lines of credit are lifelines for many contractors, yet convincing a bank to provide or renegotiate a line of credit is not easy. Crunch the numbers – Banks like proactive business owners. STRATEGY |. ACCOUNTING |.

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Is Your Construction Team Prepared for Cyber Risks?

Pro Builder

In the email, a cybercriminal, posing as a business contact, would indicate an urgent matter that requires an employee to transfer funds to an altered bank account. Consider including a cyber liability policy in your strategy to reduce the impacts of an attack, while helping your team recover faster. . . Business Management.

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ESG Disclosure Simplification Act Passes Committee But Will Fail

Green Building Law Update

Numbers are difficult to quantify but one of the world’s largest investment banks, based in Europe, has said that by 2020 it expects half of assets managed by investment companies to have expressed ESG considerations. If public companies determine that investors desire ESG disclosures, management will evaluate the risk and respond.

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Construction Law: Jan/Feb 2024

Construction Law

Editor Nick Barrett asks how long the UK can get away with the governance problem said by the head of the National Audit Office to be embedded at the heart of Whitehall when it comes to managing large scale procurements. Legal terms explained David Nitek and Noe Minamikata of Herbert Smith Freehills LLP explain what is meant by ‘hot-tubbing’.

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constructionattorneyblog: Liability for green design

Construction Lawyer

Sabo & Zahn LLC is an Illinois Limited Liability Company. Subcontractors Mechanics lien allowed where bank seized generals funds » May 20, 2009. Liability for green design. Gary Cole has written an interesting blog entry about designers' liability for green projects here:  [link]. Copyright Notice.

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Types of Capital for Construction Businesses

Levelset

Construction companies need to know the differences between the three types of capital and why each one is useful for managing and growing a business. Working capital measures the difference between a construction company’s current assets and current liabilities. Debt capital can be vital for managing cash flow in construction.

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