- Contractors will be required to perform an assessment of the customer’s ability and intent to pay the agreed upon consideration.
- Under existing U.S. GAAP, a contractor had the ability but not the requirement to combine contracts. Under ASC 606, contracts will be required to be combined when certain criteria are met.
- Contract modifications or change orders are extremely common in the construction industry. ASC 606 requires additional judgment and documentation when determining how to properly account for a contract modification.
- A large statewide wholesale energy and water utility provider identifies business process improvements through enterprise resource planning system needs assessment and procurement process.
- Listen to Part 2 in our series, Optimizing Your Portfolio: A Development Guide for Housing Agencies, as our presenters discuss various financing options that public housing agencies can use to optimize the capital stack for their development projects.
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