New accounting requirements for leases take effect
We recently learned from Withum, CPA's that the Financial Accounting Standards Board long anticipated new accounting rules for leases is now in effect for nonpublic companies whose fiscal year began after December 31, 2021. In simple terms, most every lease for lessees will no appear on a company's balance sheet. The present value of all [...]
Protecting your Profits Amidst Rising Inflation
Construction Input Costs and Overall Inflation on the Rise: With fiscal stimulus checks hitting bank accounts across the United States this month and tax refunds rolling in, we have our eyes on construction input inflation, as well as inflation in the broader economy. Earlier this month, Associated Builders and Contractors reported that nonresidential construction input [...]