Construction

New Revenue Recognition Standard: Identifying Separate Performance Obligations

Revenue Recognition: The Coming Changes As difficult as it may be to believe, life under the new revenue recognition standards has almost begun for private construction companies. Released by the Financial Accounting Standards Board (FASB) in May of 2014, Accounting Standards Update 2014-09, Revenue from Contracts with Customers: Topic 606, imposes a five step approach […]

Indirect Cost Rate Audits: The Basics

As a contractor or engineer you may have considered bidding on projects at some point in time that required an indirect cost (or overhead) rate audit. The information below will provide you with a basic understanding of what to expect during an indirect cost rate audit. Often times if you are working with a federal, […]

Webinar Recap – Application of the New Revenue Standard

This webinar entitled “Application of the New Revenue Standard,” was originally produced on Thursday, June 15, 2017. We hope that you enjoy the full recording of the presentation and additional resources offered below. This webinar was hosted by McKonly & Asbury Partner Janice Snyder and Partner Dan Sturm. This webinar provided a summary of key points […]

Little-known Tax Break: The 179D Tax Deduction

The 179D tax deduction can provide great benefits to taxpayers, however, it is largely overlooked. The 179D deduction was originally enacted under the Energy Policy Act of 2005 and offers tax incentives for sustainable, energy efficient building design. Commercial building owners or primary designers – here’s looking at you, architects, engineers, and contractors – can […]

Webinar – Application of the New Revenue Standard

McKonly & Asbury is pleased to announce our next webinar entitled “Application of the New Revenue Standard.”  This webinar will take place on Thursday, June 15th, 2017. This webinar will be hosted by McKonly & Asbury Partner Janice Snyder and Partner Dan Sturm. This webinar will provide a summary of key points of the new revenue […]

Subcontractors Top Accounting & Tax Tips For 2017 & Beyond

McKonly & Asbury’s team of construction experts will be presenting  at The American Subcontractors Association of Central Pennsylvania’s March Dinner Meeting, “Top Accounting & Tax Tips for 2017 & Beyond.” This dinner meeting will take place on Tuesday March 7th, from 5:00 PM – 8:00 PM at the Clarion Hotel & Conference Center. David Blain, […]

Backlog, Bonding and Profitability

Construction backlog expanded during the third quarter, according to Associated Builders and Contractors (ABC) Construction Backlog Indicator, which is great news following two quarters of declining backlog.  While this increase in backlog indicates that new construction is on the rise due to economic optimism, there continues to be stiff pressure on bottom line profitability. This […]

Keystone Contractors Association Releases 2017 Construction Forecast Survey Results

In  a press release issued in early January by The Keystone Contractors Association (KCA), KCA announced its results of its 2017 Construction Forecast for Pennsylvania. The results of the 2017 KCA Construction Forecast indicate that most of the commercial construction industry expect this year to be better than last year. The following are a few […]

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