This week nearly 50 member company CFOs, CEOs and other senior accounting professionals are participating in the AGC Financial Issues Forum (FIF) Winter Meeting in Miami, Florida. FIF members are being brought up to speed on pertinent tax and accounting issues and engaging in colloquies with peers on the latest accounting proposals impacting the construction industry. On the first day of the forum attendees heard from speakers on a wide variety of topics including:
- An economic outlook for the industry by AGC’s Economist Ken Simonson;
- Update on Financial Accounting Standards Board (FASB) open projects such as lease accounting and revenue recognition by FASB senior staff, CBIZ MHM, and an AGC member CFO;
- Update on the implementation of the Affordable Care Act, as well as details on the law’s penalties and taxes from Cavanaugh Law firm attorneys;
- A discussion on latest audit issues faced by construction companies.
- A discussion on construction tax issues by representatives from Moss Adams, Carbis Walker and CBIZ MHM;
- A tax reform policy dialogue concerning the recently published legislative drafts and future congressional action by AGC tax and government affairs staff;
- A discussion with former Ways & Means Committee staff director; and the author of the definitive book on the 1986 reform on the thinking behind members of Congress’ approach to tax reform.