Construction Executive published an article by Partner Robert Mercado and Senior Manager Michelle Scarponeabout the new lease accounting standard.
By Robert Mercado, Partner, Assurance Services & Michelle Scrapone, Director, Assurance Services
Once the contractor understands the impact of the new lease standard, the contractor can assure all financial institution and surety criteria are within reach. Contractors with strong accounting and legal counsel can mitigate the impact of the accounting changes ahead of time and eliminate any potentially damaging financial shortfalls on the balance sheet, hence allowing for covenants to be met.
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