TLDR: Construction companies need to be prepared for changes in accounting standards, tax credits, and industry challenges, and should focus on adapting to the impact of the pandemic while effectively managing contracts and financial position. 00:00 🏗 Construction accounting and industry update: lessons learned from asc606 implementation, including the need for consistent application of accounting policies and judgment in identifying variable considerations in construction contracts. 12:18 🚧 Companies in construction industry should prepare for new leasing standard, address challenges like skilled labor shortage and outdated technology, and consider alternative accounting products. 17:20 🏗 Construction companies have options for recording PPP loans, non-profit organizations and for-profit companies can use a preferred accounting model, and R&D tax credits may provide significant savings for construction activities. 24:40 🏗 Construction businesses can benefit from tax credits and refunds, including the employee retention tax credit and off-highway fuel use credits, and should consider tax planning strategies for potential changes in the new administration. 33:56 🏗 The construction industry is adapting to the impact of the pandemic with increased use of technology, addressing labor shortages, and potential changes in office space. 44:20 🏗 The construction industry faced challenges and uncertainty due to the pandemic, with varying backlogs and market sector impacts. 53:12 🏗 Clients in construction industry facing fee pressures and uncertainty, increased competition leading to margin deterioration, potential loss cycle and hardening surety market, crucial to manage contracts, financial position, and communicate with security partners. 01:00:06 🏗 Reach out to be added to the mailing list, recording of presentation will be posted on website and social media, certificates for polling questions will be sent out within two weeks.

hi Edgar from Mombasa Kenya

Hi there It may not be a good place to ask for work Do you hire audit experts for audit work, Let me know if you have any job or freelancing work? I'll appreciate it. Regards, Ishan

Hi there. I am a leasing agent temp and need to learn how to file the paperwork in the folders. Do you have a video for this or a class even if I have to purchase it. Not knowing this is holding my career. Thank you.

I got a lot of value from this webinar, so thank you very much for your work and for sharing the knowledge!

Thanks..

Thanks Nissley...

Thanks for your video. Could you please let me know how to calculate the interest? Thank you!

❤❤

Plz Slides deck link?

This will be my first time working with a LIHTC company and I sincerely thank you for making this video!

Thanks for the guidance, however, when calculating the pv of the first example I am getting 102,021. Would you please explain?

Risk Assessment Corporate🔗Iatrogenic's Gaslighted Abused and Fabricated Diagnosis are stones that typically DON'T GET TURN OVER. WHY NOT❓❗❓Systemic Trust and Corporate Corruption Healthcare schemes in Organization.

Doctors have "perceive opportunities" "Hold Keys to the Kingdom." No oversight to Psychiatrist and Physician is NON EXSISTENCE.

Systemic the Corporate Business Plan is to intentional committed Fraud False Claims.

Ty

This was a phenomenal webinar. So glad I found this. It explained so much and helped me tremendously. Thank you.

Very good info.. briefly covered all points. Thank you

This is great, in surprised you have not mentioned SOC for SCADA Cybersecurity

Thank you for the super helpful video!!

Looking forward to seeing more videos! I think that you deserve way more views. Have you ever looked into using PromoSM!?? You should use it, it will help you get the views that you deserve.

Informative ❤️

so cringe, easy to spot he is reading from somewhere else and not looking at the camera lol

De

Very informative.

Great Video

I like it,

one of the best presentation for SOC reporting in a short time.

Thanks much indeed

Need a referral for an historic building in ny Thanks

Thank you for the great explanation!

Who can issue a SOC report (Firm/Individual)?

I am unable to get back up to 6 full time employees, but did manage to get to 5.65% of FT. I also have not got enough money after 8 weeks to pay the taxes.. what will happen?

Hi, we received our PPP loan April 30, we received our paycheck May 5, for the payroll period April 16 to 30, is it included in the 8 weeks period?

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A CPA told me you MUST use all of the 75% towards payroll first before the forgiveness (remaining 25%) for rent/utilities/etc kicks in? I don't think this is true but can you confirm? I thought you could use some for rent right away as long as it's not more than 25%? Thank you.

Hello! I would like to know about utility costs forgiveness? As truck driver, I am able to include insurance costs for my Bussines?

I have a scenario where our look back period 02/15 /19 to 06/30/19 I had FTE of 7. 3 employees not with us are currently employed. Our FTE 01/01/20 ro 02/29/20 was 4. We now have 5.5 FTE would that be ok?

How do I calculate Schedule A Worksheet Steps 1, 2, and 3 apply as a self-employed, single member LLC?

Good explanation.

How difference is soc security organisation control and security operation center?

Are all my subs considered payroll? I am divorced who gets the money for the kids?

I beleive this is the best video that have clearly demonstrated the SOC reporting structure.

Hello, im in Kentucky. Have i commercial building in historic district I need some advice. To move forward This is a very large building

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COPAS

I would love to see an updated version where it details what’s different from the old standard versus the new standard. A lot of what was mentioned sounds pretty consistent with old standards.

2:43 five steps starts here last step 5:13

The market for programmers is becoming more and more competitive while at the same time the number of great coders is growing smaller, so it can be very difficult for companies that need these kind of employees. In such situations, it’s necessary for a company to learn better how to recruit their employees but also how to retain them. Developers like to say that there is no lack of talent. It’s just about the fact that they can choose from many places to find work and they want their talent somewhere it deserves to be. However, it can be very difficult to find good employees with the right talents and even more difficult to make them want to stay for the long haul. Anyways, read the below. This might help. www.namasteui.com/the-definitive-guide-to-recruit-and-retain-top-coders/ -- Regards, Sourav Basak Namaste UI

Useful information for the audience who intend to know high level overview about SOC1, SOC2 or SOC3 Reports.