Construction organizations are looking for ways to cut costs, become more efficient and exit unprofitable services or products – but depending on the approach, these actions can sacrifice long-term goals and potential rewards. Ad hoc cost-cutting often erodes morale, damages a company’s reputation and degrades infrastructure. By contrast, implementing a disciplined, enterprise-wide profit improvement initiative…

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On January 16, 2014, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2014-02, Intangibles—Goodwill and Other (Topic 350): Accounting for Goodwill. This ASU introduces an accounting alternative for private companies that simplifies and reduces the costs associated with the subsequent accounting for goodwill. The effects of a private company electing the accounting alternative…

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