Director, Audit & Accounting
Construction Industry Group Co-Leader
The release of FASB ASC 606, Revenue from Contractors with Customers, and the five-step revenue recognition model changed the way contractors recognize revenue under GAAP. Construction contractors are very familiar with contracts, however, the new revenue recognition standard will require management to make additional judgments regarding when to recognize revenue associated with contracts. The information below tackles the issues that are most pressing to construction companies as they begin to understand the implications of the new standards.
Construction Contractor Workshop:
Kreischer Miller has also partnered with CICPAC to create these propriety whitepapers that go into more detail. Access these materials by filling out the form below.