• Skip to main content
  • Skip to the end
  • People
  • Services
    • Tax
    • Assurance & Accounting
    • Estates & Trusts
    • Business Advisory
      • Start-up Advising
      • Corporate Governance
      • Internal Control
      • Growth Management
      • Succession Planning
    • Valuation
      • Valuation Services
      • ESOPs
      • Start-up Funding
      • Stock Options
      • Valuation Process
    • Litigation Services
    • Benefit Plans
  • Expertise
    • Construction
    • Family Wealth & Individual Tax Planning
    • International
    • Technology
    • Nonprofit
    • Emerging Businesses
    • Manufacturing & Distribution
    • Recreation & Entertainment
    • Renewable Energy
    • Real Estate
  • Resources
    • 2020 Tax Planning Guide
    • Estate Planning Podcast
    • Estate Planning Year-End Check Up
    • Insight on Estate Planning Blog
    • Founder’s Pit Crew
    • International Tax Articles
    • Nonprofit Insights Blog
    • Tech Company Life Cycle Chart
    • Tech Blog
  • News & Events
    • COVID-19 Articles
    • Newsletters
    • ASL Talks
    • Press Releases
    • Media
  • Careers
  • About
    • About Us
    • Our Mission
    • Our Community
    • Associations
  • Contact
  • File Sharing
  • Pay Online
  • About
    • About Us
    • Our Mission
    • Our Community
    • Associations
  • Contact
  • File Sharing
  • Pay Online
ASL
  • People
  • Services
    • Tax
    • Assurance & Accounting
    • Estates & Trusts
    • Business Advisory
      • Start-up Advising
      • Corporate Governance
      • Internal Control
      • Growth Management
      • Succession Planning
    • Valuation
      • Valuation Services
      • ESOPs
      • Start-up Funding
      • Stock Options
      • Valuation Process
    • Litigation Services
    • Benefit Plans
  • Expertise
    • Construction
    • Family Wealth & Individual Tax Planning
    • International
    • Technology
    • Nonprofit
    • Emerging Businesses
    • Manufacturing & Distribution
    • Recreation & Entertainment
    • Renewable Energy
    • Real Estate
  • Resources
    • 2020 Tax Planning Guide
    • Estate Planning Podcast
    • Estate Planning Year-End Check Up
    • Insight on Estate Planning Blog
    • Founder’s Pit Crew
    • International Tax Articles
    • Nonprofit Insights Blog
    • Tech Company Life Cycle Chart
    • Tech Blog
  • News & Events
    • COVID-19 Articles
    • Newsletters
    • ASL Talks
    • Press Releases
    • Media
  • Careers
Search | Menu
February 22, 2021

2020 – The Year That Was and What Lies Ahead for the Construction Industry?

By Deepa Bhat, CPA, CFE, ACA, Principal
ASL Construction Group

I was once again at my annual Board retreat (virtual, alas!) for the Builders’ Exchange of Santa Clara, and came away with some fascinating data – both historical and predictive.  Like many of us, I was curious to understand the impact of COVID-19 on this industry in 2020.  These were the top takeaways from this meeting: (more…)

Share Article
Print
Categories: Construction Corner, Winter 2021
Tags: Builders’ Exchange, Construction Updates, Deepa Bhat,
February 10, 2020

What Lies Ahead for the Construction Industry?

By Deepa Bhat, CPA, Principal
ASL Construction Group

I recently attended our annual Board retreat for the Builders’ Exchange of Santa Clara, and came away with some fascinating data – both historical and predictive. As someone who routinely works with contractors, I was intrigued by the statistics and forecast data presented to the group. Here’s a list of my top takeaways from the meeting: (more…)

Share Article
Print
Categories: Construction Corner, Winter 2020
Tags: Builders’ Exchange of Santa Clara, Construction forecasts, Construction spending, Deepa Bhat,
November 7, 2019

Have You Implemented ASC 606?

By Becky Watson, CPA, Audit Manager
ASL Construction Group

The end of the year is coming fast and with it comes the requirement to adopt FASB ASC Topic 606 Revenue from Contracts with Customers by all calendar year-end private companies (this standard was applicable to public companies for calendar year 2018).  If you have not yet implemented the new accounting standard, here are a few items to consider. (more…)

Share Article
Print
Categories: Construction Corner, Fall 2019, Revenue Recognition
Tags: ASC 606, Becky Watson, construction companies, Performance-based Compensation, Revenue Recognition,
July 31, 2019

Top Three Considerations for Better Reporting – Are You Doing These?

By Deepa Bhat, CPA, Principal
ASL Construction Group

As we were wrapping up the reviewed financials for my General Contractor client, I asked the Controller, “what are some of the issues often overlooked by contractors as it relates to accounting?” And she was happy to oblige me with her top three issues for contractors to consider for better reporting: (more…)

Share Article
Print
Categories: Construction Corner, Summer 2019
Tags: construction companies, Construction contractors, Deepa Bhat, Project Management Software,
May 21, 2019

Local Construction Industry Resources

By Jerry Quintos, CPA, Director
ASL Construction Group

Are you a construction industry company utilizing all your local resources here in Silicon Valley? Most of you probably are, but some of you… perhaps not. I’m thinking about the Construction Financial Management Association of Silicon Valley (CFMA), Builders’ Exchange of Santa Clara County (Builders’ Exchange), and the Construction Group here at Abbott, Stringham & Lynch (ASL). (more…)

Share Article
Print
Categories: Construction Corner, Spring 2019
Tags: Builders’ Exchange, construction companies, Construction Financial Management Association of Silicon Valley,
February 5, 2019

Benchmarking Contractor Financial Statements Leads to a Wealth of Information

By Deepa Bhat, CPA, Principal
ASL Construction Group

As we head into another busy tax season, I am mentally preparing myself to answer questions from my contractor clients on how they stack up within their industry and against their peers. Lucky for me, I have access to industry benchmarking data that makes my client conversations productive and informative. In addition, as a bonus, the benchmarking reports provide a deep insight into the Company’s present and, often, their future. (more…)

Share Article
Print
Categories: Construction Corner, Winter 2019
Tags: Benchmarking, construction companies, Deepa Bhat, financial statements,
November 15, 2018

Environmental Impact of the Concrete Surrounding You

By Steve Carter, CPA, Principal
ASL Construction Group

When you see a cement mixer going down the street, or at a site getting ready to pour, do you think immediately of the effects upon our environment? I must confess, I have not. Until recently.

Cement is a major component of concrete. Cement is often referred to as the glue that holds concrete together. But cement is very harmful to our environment.  One ton of cement production releases one ton of carbon dioxide (CO2) into the atmosphere. With cement production currently at 2.8 billion tons per year, and expected to only increase, that is a lot of CO2 released into our already fragile atmosphere. (more…)

Share Article
Print
Categories: Construction Corner, Fall 2018
Tags: Carbon dioxide, Cement, Concrete, Steve Carter, sustainability,
August 23, 2018

Red Flags on a Contractor’s Work in Progress Schedule

By Deepa Bhat, CPA, Principal
ASL Construction Group

It is a well-known fact that best in class contractors prepare a work in progress (WIP) schedule on a regular basis. Not only does this practice allow the users of the financials, such as lenders and bonding companies, identify early warning signs, it enables contractors to better measure their progress on jobs and be proactive in seeking change orders and contract revisions. As a constant reviewer of contractor financials, I have found the following most common red flags on WIP schedules that are worth mentioning: (more…)

Share Article
Print
Categories: Construction Corner
Tags: Construction, Deepa Bhat, overbillings, underbillings, WIP schedule, Work in progress,
July 31, 2018

Beware of New California Employee Protection Law

By Abe Livchitz, CPA, Senior Tax Manager
ASL Construction Group

In October, 2017, Gov. Brown signed Assembly Bill 1701 modifying the California Labor Code. The bill requires contractors to assume liability for any unpaid wages or fringe benefits owed to employees of their subcontractors. This provision applies to all nonpublic construction contracts entered into on or after January 1, 2018.  The new law requires diligent contractors to now monitor the payroll functions of their subcontractors and any subcontractors used by their subcontractors. (more…)

Share Article
Print
Categories: Construction Corner, Summer 2018
Tags: Abe Livchitz, Assembly Bill 1701, California Labor Code, Contractors, subcontractors,
Next Entries

Categories

    Archives

      subscribe:
      asl advisor

      Subscribe today to receive the ASL Advisor!

      Sign Me Up!
      Contact Us Join Our List Follow
      Privacy Policy | Site Map | Design by HDSF
      © 2021 Abbott, Stringham & Lynch - San Jose CPA Firm - 1530 Meridian Avenue, 2nd Floor, San Jose, CA 95125
      Phone: 408-377-8700 - Fax: 408-377-0821 - info@aslcpa.com

      Accounting | Tax | Audit | Consulting – Abbott Stringham & Lynch is a top 30 CPA firm serving San Jose, the heart of Silicon Valley and the greater Bay Area. Our experienced team offers audit, accounting, tax, valuation, and consulting services to companies and individuals. With expertise in the areas of real estate, construction, technology, nonprofit, emerging business, international, family wealth & individual, recreation and entertainment, and renewable energy. San Jose CPA – Silicon Valley CPA. Regretfully, we are unable to refund payments made through our online processing system.