What Construction Contractors Need to Do to Comply with New Lease Accounting Rules
Changes to the way your construction company accounts for leases are on the horizon. Are you ready? The use of leases in the business world is widespread. Businesses can lease land, buildings, rail cars, airplanes, large machinery, office equipment … the list goes on and on. Chances are, your business uses leases in some way. The reasons businesses use leases vary, but the bottom line is that all leases have to be accounted for in financial statements.