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Construction: Revenue Recognition Update


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It’s almost here! Major accounting for revenue recognition rule changes will soon go into effect and they may have a considerable impact on how construction companies report their financial results. The 700-page revenue recognition accounting standard includes new rules that will require contractors to not only disclose more information than they do now, but also change how contractors report contracts and recognize income.

Join us on Thursday, October 3rd as VonLehman’s Andrew Donohoe discusses current developments regarding the standards, including what’s changing, when the changes must be implemented, and how they’ll affect financial statements.

This event qualifies for 1 hour of Continuing Professional Education credit. 

Learning objectives:

  • Difference between current GAAP and Topic 606 (New Revenue Recognition Standard)
  • Assessment of current resources, including less-than-700-page implementation guides
  • New internal accounting controls and procedures development
  • Disclosure pre- and post-implementation
  • Transition method and implementation date selection
  • Real World Examples and Case Studies
  • How the changes will affect your company’s financial statements in the future
  • Tax accounting methods and tax planning impact

Agenda:

11:30 - Networking/Registration
12:00 - Presentation
1:00 - Program Concludes