February 2022
What Do I Do Next Now That the New Lease Standard Is Here?

Accounting Standards Update (ASU) 2016‐02, Leases, is required to be implemented by private companies for years beginning after December 15, 2021. With the implementation of this standard, companies will be required to capitalize their leases. In this article, I will review a couple of options to consider for the implementation of the new leasing standard.

Five Tips to Improve Your Financial Reporting 
In today’s challenging environment, a construction company’s relationships with its lenders and surety are more important than ever. One way to enhance these relationships is to provide financial statements (and other documentation) that are complete, accurate and timely. This article discusses five ways to optimize the financial reporting process. 
Common Exit Planning Mistakes Contractors Make
Exiting your contracting business efficiently and with minimal losses requires solid exit planning. No matter who you’re passing it off to, there can be issues if you don’t think the steps through. In this article, we discuss the eight most common exit planning mistakes contractors make.
The ABCs of Activity-Based Costing
What’s the “true” cost of a product or job? The answer is critical to evaluating your company’s profitability and may be found through activity-based costing. This article with review the steps used in activity-based costing and the benefit from this system.
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About Dannible & McKee, LLP

Dannible & McKee, LLP has been providing audit, tax, accounting and financial management consulting services to clients nationwide since 1978. We are highly respected among construction leaders, and we are actively involved with our construction clients and the many organizations affecting their businesses. We go beyond our competition by conducting one-on-one, year-end planning meetings to review your operations and plan for income taxes, banking and bonding concerns. Because of our comprehensive familiarity with all aspects of construction, we’re able to assist you in business planning and long-term goals, all while resolving your daily operational needs to maximize cash flow.

To learn more about Dannible & McKee, visit us at: www.dmcpas.com