Last updated on February 20th, 2024The New York Fiscal Year 2024 budget was worth the wait for construction businesses thanks to over $23 billion for infrastructure and capital projects across the state. At the same time, the budget makes history with the most progressive legislation on building decarbonization, continuing to
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Last updated on February 20th, 2024Now that financial statements reflect ASC 842, construction companies need to understand the potential effects on bonding and business so they can plan accordingly. Last year, private companies were focused on identifying and categorizing leases to ensure they were accurately reflected on financial statements to
Last updated on February 20th, 2024As an accountant, I can always depend on numbers to make sense, until they don’t. Take the talent shortage, for example. According to the AGC 2023 Construction Hiring and Business Outlook Report, 69% of survey respondents expect to increase headcount this year. At the same
Last updated on January 30th, 2023Mentoring was once reserved for building senior leadership talent pipelines – not anymore. Today, over 70% of Fortune 500 companies make mentoring a fundamental part of their recruitment, retention, and engagement strategies for many employees. The fact is, when done right, mentorships can be a
Last updated on January 30th, 2023The new lease accounting standard – ACS 842 – took effect for private and non-profit organizations for fiscal years starting January 1, 2022 (or 2023 for non-calendar year-end entities). While that means at the earliest your organization must account for all leases on your financial
Last updated on January 30th, 2023Optimism is high about construction industry prospects thanks to the Infrastructure Investment and Jobs Act. There are going to be more jobs, opportunities, and investments. Before partaking in the coming construction boom, businesses must prepare to navigate some storms; digitalization of the construction industry can
Last updated on January 30th, 2023No one ever said being a contractor would be easy. Rewarding? Yes. A breeze? Far from it. Consider all of the parties involved in any given project: developers, investors, lenders, insurance carriers, architects, engineers, consultants, subcontractors, suppliers, and manufacturers. There is a lot that can
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