Managing a successful construction company is a challenging task. There are multiple variables that demand attention across all operational areas of the company including talent acquisition and retention. The elevated level of construction activity has left many companies struggling to find, recruit and retain skilled craftsman and other professionals which complicates the situation.
Small private companies frequently disparage the Financial Accounting Standards Board (FASB) because of the overly complex standards they create, revolving around the needs of stakeholders in large public companies instead of “Main Street” businesses. Below are ways FASB has handled these concerns in recent years.
Managing a successful business requires the skills needed to deliver the right product or service, but also requires the tacit understanding of how to do so in a profitable way. There are dozens of contractors specializing in services, including roof installation and repair, plumbing, electrical, and even elevators and other such systems.
Planning is an essential part of success in any business. This is true for the newest startup company to those in business for generations. Effective strategic planning requires management to look beyond the four walls of the office to assess industry and market conditions in an effort to identify opportunities.
Retirement plans including 401(k), 403(b) and others have become a staple at almost every organization. Prospective and current employees expect the company will actively participate in helping them save for retirement by offering a plan and making annual contributions or other payments.
For plan sponsors that are required to conduct an employee benefit plan audit, the process can be stressful. The Internal Revenue Service (IRS) and Department of Labor (DOL) regulate benefit plans and require an independent accounting firm to conduct an audit of the plan.
Need cash in a hurry? Here are several ways that business owners can improve cash flow by turning to their financial statements.
Accounting Standards Update (ASU) No. 2016-14, Not-for Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities represents the first major change to accounting rules for churches, charities and other not-for-profit entities since 1993. See below for a summary … Continued
It’s a basic human instinct to compare how one person or business differs from another. While this can sometimes be competitive in nature, it can also be a useful tool in understanding where opportunities for growth and change exist.
The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments nearly a year ago to standardize the cash flow reporting practices. Yet, cash … Continued