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How the New Revenue Recognition Standard Affects Construction Contractors
When the Financial Accounting Standards Board (FASB) issued its new revenue recognition standard in May, it effectively swept away all preexisting GAAP in the area of revenue recognition, including...
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Changes in Revenue Recognition Standard to Affect Construction Contractors
When it comes to accounting for revenue, the construction contracting industry has long been held to separate accounting principles due to the nature of long-term contracts. For years, the industry –...
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FASB Votes to Defer Effective Date of the New Revenue Recognition Standard
The FASB has voted for a one-year deferral of the effective date of the new revenue recognition standard in ASU 2014-09, Revenue from Contracts with Customers (Topic 606) for both public and private...
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