It’s time for contractors, and their accounting professionals, to get serious about FASB ASU 2016-02, Leases (ASC 842)

The contractor’s focus should be on the impact the lease standard will have on the company, specifically bank and surety considerations. This whitepaper will provide further insight to some of the key areas that you should be aware of when implementing the new standard. This change will mean that under the new standard, companies will have to capitalize all leases with terms greater than 12 months, creating a new asset and liability on the balance sheet. In addition, all leases will be classified as operating or financing leases (“capital lease”). A key element of this standard is that it does not grandfather existing leases. We are here to assist and consult on this matter.

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EGPs Litigation and Valuation Team Keeps Expanding

At some point, most individuals and businesses will find themselves embroiled in highly complex litigation requiring financial analysis and a deeper valuation.

The firm's litigation and business valuation team is widely regarded as having the expertise needed to express an opinion about the validity of evidence in a case and convey that opinion in a way that can be understood and believed. Our team has earned respect from law firms that understand a qualified financial services firm is a critical component of a successful litigation strategy.

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