The new standards will require construction companies and contractors to report long-term lease liabilities as fixed asset liabilities on their balance sheet, instead...
“Going green” has become the mantra for many contractors and building owners. The challenge is to practice environmental stewardship in a way that’s also conducive to a healthy bottom line.
In November 2011, the Financial Accounting Standards Board (FASB) re-issued their exposure draft on Revenue Recognition for Contracts with Customers (Topic 605). The reissued draft was in response to more than 1,000 comment letters from the industry and the accounting profession, as well as other stakeholders.
Thursday, June 28th, The Supreme Court ruled 5 to 4 that Congress does have the power to require that individuals acquire and maintain health care insurance. The decision also prohibits the federal government from withholding funds from state Medicaid programs (under certain circumstances).
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