article thumbnail

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

Construction Business Owner

Going forward there will be a long-term asset offset by a current liability and a long-term liability. While both operating and finance leases will be recorded on the balance sheet, expense recognition is different. Finance leases will require the lessee to recognize interest expense and amortization expense. Main Image.

Leases 178
article thumbnail

The Startup Construction Business Checklist: 3 Important Documents You Need to Have

Construction Marketing

This article outlines three important documents that you’ll need in order to start and run a profitable business. A construction business needs need public liability insurance , and employers’ liability insurance if you employ staff. Legal Documents. There are many different types of insurance in the United Kingdom.

professionals

Sign Up for our Newsletter

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

article thumbnail

Green Buildings are Subsidizing Conventional Buildings Stymying Climate Progress

Green Building Law Update

The financial value of green buildings is well documented, from commanding higher rents, greater occupancy rates, and increased occupant satisfaction, to lower operating costs for everything from reduced insurance premiums and less energy utilized, easily resulting in an increased return on investment of more than 9% over conventional building.

Green 293
article thumbnail

What Is a Certificate of Insurance (COI) for Contractors — and When Do You Need One?

Levelset

Aside from owners and GCs, a government entity may want to see proof of liability insurance. You may be seeking to work for a local, state, or federal government, and these bodies will want to know that you carry liability insurance before you’re awarded — or even considered — for a bid. When do I need to provide a COI?

article thumbnail

Construction Business Owner Blogs

Construction Business Owner

Accounting & Finance. « Public Exposure and Liability on Construction Sites. Project Document Management : Your Communication Strategy. Because some very specific documents are created and used throughout the life of a typical construction project, these documents can serve as the center of your communications strategy.

article thumbnail

Construction Business Owner Blogs

Construction Business Owner

Accounting & Finance. Public Exposure and Liability on Construction Sites » Better Project Management through Better Communication. Consider these three vital areas: Construction Project Documents: How do you move documents through your organization? Public Exposure and Liability on Construction Sites.

article thumbnail

Army Job Order Contracts FAIL to meet AFARS requirements MOST OF THE TIME

Job Order Contracting

A copy of all JOC orders must be sent to the contracting office appointing ordering officers, the Finance and Accounting Office, the office or individual assigned responsibility for inspection and technical administration of the contract, and any appointed COR. d) Distribution. c) Authorization and limitations. (1)

Contract 228