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According to a new Standard & Poor’s report, there are two key indicators that will tell you what kind of shape the manufacturing industry is in. The first is the Institute for Supply Management’s Purchasing Manager’s Index and the second is the Federal Reserve’s Capacity Utilization Index for motor vehicles and parts.

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What comes to mind when you think of companies like Apple, Patagonia, and Ferrari? Success. Vision. Passion. Purpose. Most likely, it’s a combination of all these answers. These companies have a reputation for not only being highly successful, they are also known for their strategic forward-looking vision, passion for what they do, and clear purpose. These companies transcend manufacturing; they have nurtured cultures that focus both on business and the additional impact they can have on the world. How do they accomplish this, and what does this have to do with manufacturing?

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To enhance transparency and comparability of financial statements and minimize off-balance sheet items, the Financial Accounting Standards Board (FASB) issued its long-awaited new accounting requirements for leases (“ASC 842”) in early 2016. There are elements of the new accounting requirements for leases that could impact almost all entities to some extent, although lessees will likely see the most significant changes.

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As 2018 comes to an end, it is important for construction companies to be aware of the trends that are expected to be seen in 2019.

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The Windsor-Detroit Bridge Authority (WDBA) has finally selected Bridging North America (BNA) to design, build, finance, operate and maintain the second Detroit-Windsor Bridge named after Detroit Red Wing Legend, Gordie Howe. The procurement process began in July 2015 and was announced in September 2018. The construction of the bridge has been valued at a fixed-priced contract value of $5.7 billion and will take approximately 74 months to complete, with an anticipated service date at the end of 2024.

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Over the past few years, Detroit has seen a building boom in an effort to rebuild the city to its former glory. In November; Bedrock, Barton Malow Company and Turner Construction hosted the Ready.Set.Build! Construction Career Expo at Detroit’s Cobo Center. Types of trades at the expo included plumbers, pipefitters, electricians, welders, and many more. The Ready. Set. Build! expo gave job seekers hands-on approaches to learning trades with virtual simulators and participation in live demonstrations.

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29% of all global patents for blockchain technology were filed by US businesses last year – ranking them second in the world – with 92 patents from a total of 314 filed with the World Intellectual Property Organisation (WIPO) in 2017, shows a new study by UHY, the international accounting and consultancy network.

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The centralized partnership audit regime rules are now in effect and change the way partnerships are audited by the IRS. These new rules require the actual partnership to pay any deficiencies resulting from any audit adjustments. This means that the IRS will apply the top tax rates to any audit adjustments to calculate deficiencies, without regard to any partner level attribute that may have otherwise reduced the tax due from an audit adjustment.

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We welcome Bendoraytes & Cia – Auditores Independentes, our new member firm in Brazil, to the global accountancy network UHY, extending our coverage within South America. The firm is in the process of adopting the UHY branding and will be known as UHY Bendoraytes & Cia Auditores Independentes.

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We welcome, Suvod Associates, our new member firm in Nepal, to the global accountancy network UHY, extending our coverage within the Asia-Pacific region. The firm is in the process of adopting the UHY branding and will be known as UHY Suvod Associates, Chartered Accountants.

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