- 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.
- In this article for Beverage Master, Baker Tilly’s Andy LaRose shares his insight on the evolving craft beer market and what brewers can expect when entering the market.
- OMB issued an addendum to the Uniform Guidance on May 17, 2017. The amendment allows nonfederal entities an additional year to implement the Uniform Guidance requirements related to procurement.
- IRS issues proposed procedures to obtain automatic consent for accounting method changes related to the new financial accounting revenue recognition standards
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