- The AICPA Revenue Recognition Task Forces issued ASC 606 guidance related specifically to fund managers that should be considered when implementing the new revenue recognition standard.
- In this series of insights, we illustrate the critical new concepts of each element of the revenue recognition standard with construction industry-specific scenarios so you can begin to assess the impact it will have on your business.
- Watch this webinar to learn the steps Baker Tilly believes a construction company should take to achieve compliance and why early adoption can offer a competitive advantage.
- Contractors will need to provide qualitative and quantitative information regarding its contracts with customers, the estimates and judgments the contractor used to measure its revenue, and the nature of any assets recognized related to the costs of obtaining the contracts.
- Construction contractors should be aware of a number of other unique accounting and reporting items that may or may not differ from existing guidance under U.S. GAAP.
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