In a surprise move, on May 20, 2020, the Financial Accounting Standards Board (FASB) approved a one-year deferral to the effective date of the revenue standard (FASB ASC Topic 606, Revenue from Contracts with Customers) for all nonpublic and not-for-profit entities that have not issued their financial statements.
According to Associated Builders and Contractors (“ABC”), industry leaders are expecting increases per the Construction Confidence Index (“CCI”) in the following areas of their businesses: Sales Profit Margins Staffing levels The CCI is a diffusion index where readings over 50 indicate growth, and readings under 50 are unfavorable. Visit the
A captive insurance company is an entity created and wholly owned by one or more non-insurance companies to insure the risks of its owner, or owners. Captive insurance companies can be leveraged to provide small to medium-sized businesses with an option to better serve the insurance needs of their companies.