How Contractors Handle Revenue from Contracts with Customers
On May 23, 2019, Barnes Dennig hosted a seminar on the intricacies of the adoption of ASC 606 – Revenue from Contracts with Customers, for contractors. Tom Groskopf, Director at Barnes Dennig, and Dan Holthaus, Senior Manager at Barnes Dennig, discussed the accounting standard that became effective for all
Construction Firms See Expansion in the First Half of 2019
2019 began with expansion for the construction industry, a recent Associated Builders and Contractors, Inc. (ABC) study reports. According to ABC, nonresidential spending totaled $762.5 billion for January 2019, which represents an increase of 4.8 percent over January 2018. Similarly, FMI’s recent first quarter 2019 report indicated the engineering
Continued Growth for Contractors Highlighted in Benchmarking Report
In May of 2018, Barnes Dennig, North Side Bank, and USI Insurance revealed the results of their biennial Construction Compensation and Benefits Benchmark Study. At a time when many contractors are stretched thinned for labor, growing rapidly, and have seemingly more work than they know what to do with, construction
2016 Benchmarking Report Reveals Favorable Forecast for Contractors
In the spring of 2016, Barnes Dennig and USI surveyed local contractors about salary, benefits and other benchmarking data in our 2016 Contractor’s Compensation & Benefits Benchmarking Study, releasing the findings in a roundtable discussion at the Cintas Center. During the discussion, we reported continued growth for the national, regional,
Why You Should Care about Subcontractor Pre-qualification
Does your construction firm commonly subcontract work to other contractors? Have you properly vetted these subcontractors – not just the quality of their work, but their ability to perform financially? If not, you could be leaving your firm susceptible to an unnecessary amount of business risk. Pre-qualifying subcontractors is an
The Advantages of a Self-Funded Insurance Plan
Self-funded insurance has been a hot topic for the past few years amongst employers. As companies look to reduce the inflating cost of health care, it has become a tool to take control of their expenses rather than submitting to steadily increasing premiums. A self-funded plan puts the cost of