Construction Industry Webinar: Lease Accounting Implementation and Industry Hot Topics
Tuesday, February 15, 2022
8:30am - 10:00am
Now that the new lease accounting standard is effective for private companies, it is time for construction contractors to assess their preparedness for adoption. For private companies, the December 31, 2022 financial statements will be first time the new lease accounting standard will be required to be presented. Is your company ready?
Kreischer Miller’s Construction Industry Group discussed lease accounting implementation and a few additional hot topics in the construction industry, including the financial accounting and tax considerations for the Employee Retention Credit as well as state and local tax news.
Agenda items included:
- The definition of a lease, how it is classified, and the lease term under the new accounting standard
- Discount rate considerations and recent changes to provide more options on the discount rate used
- Implementation considerations, resources, items to look for, and the available practical expedients
- Banking and bonding considerations
- Additional industry hot topics, including the Employee Retention Credit and state and local taxes
- Mark Guillaume, Director, Audit & Accounting and Construction Industry Group Co-Leader
- Daniel Bergvall, Manager, Audit & Accounting
- Mark Coykendall, Manager, Audit & Accounting
Click here to download the slides from the presentation.
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