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 Ahead for Midwest Construction Companies
Continued growth is forecast for construction companies across the Midwest in 2019. New hospital, manufacturing, retail and lodging, highway, public infrastructure and school construction is expected to expand. The continued demand comes against the backdrop of a shrinking labor pool which have left many wondering how to cope with the
Strong Construction Market Continues to Challenge Companies
The continued strong demand for construction services and the high number of new projects being started has opened the door of opportunity for many companies. The chance to bid and work on multiple large projects has been welcome by business owners. While the skylines of many Indiana, Ohio and Kentucky
Big Data = Big Challenges for Construction Companies
Technology is advancing at a rapid pace and with it comes many changes and opportunities. In the last few years alone, construction companies have integrated new technologies into the workflow to reduce inefficiencies and streamline processes. The integration of tools such as drones, Building Information Modeling (BIM), virtual reality and