New Lease Accounting – ASC 842

The Financial Accounting Standards Board (FASB) has issued a new Accounting Standards Update, ASC 842: Leases, that addresses accounting for leasing transactions under U.S. Generally Accepted Accounting Principles (U.S. GAAP). ASC 842 was issued to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities for substantially all leases. The new rules[ … ]

Construction Equipment: Buy, Lease, or Rent?

For many contractors, construction equipment represents their largest expense in terms of (nonhuman) assets. As such, the machinery you use can either help your bottom line by making your workforce more productive or hurt it by drawing away dollars unnecessarily. So it’s important to regularly revisit that classic construction quandary: Should we buy, lease or[ … ]