Prepare Your Construction Business for an Economic Slowdown
The upcoming winter season may not be the only reason you’re seeing a decline in new construction projects. Economists are predicting a nation-wide economic downturn in the new year. Just last month, Federal Reserve Chairman Jerome Powell announced the Fed was dropping U.S. borrowing rates by another quarter of a
Solve the Puzzle when Buying, Selling, & Valuing Your Business
In Fall 2019, Barnes Dennig’s Transaction Advisory Services group presented an expert panel discussion tasked with solving the puzzle of buying, selling and valuing a business. The panel was led by moderator Dino Lucarelli, CPA, director and leader of Barnes Dennig’s Transaction Advisory Services group, who has been leading successful
Private Company Relief – FASB Approves Delay of Effective Dates for Changes in Lease Accounting and Credit Loss Accounting
In our previous coverage of the Financial Accounting Standards Board (FASB) proposal to delay Changes in Lease Accounting and Credit Loss Accounting in July of 2019, we reported that the FASB voted in favor of one-year delays in the effective dates for non-public entities. At their most recent meeting in
Ohio’s TechCred program Opens in October to Fund Training
The state of Ohio recently launched its new $30 Million “TechCred” Program, desiring to strengthen Ohio’s skilled workforce by reimbursing employers who help current or new employees earn industry-recognized, technology-focused credentials. Ohio will reimburse up to $2,000 per credential (capped at $30,000 per funding round) to those businesses whose
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