April 14, 2019
Construction Executive published an article by Assurance Partner James Miller and Supervisor Megan Moriarty, about the revenue recognition standards for privately held construction companies.
By James Miller, Partner, Assurance Services & Megan Moriarty, Supervisor, Assurance Services
Excerpt:
The implementation of Topic 606 by public companies during 2018 provided private companies with a significant amount of insight. In addition, subsequent relief and elections granted to private companies help simplify a transition that is anything but easy. However, the transition is necessary; it is incorrect for private companies to conclude that implementing Topic 606 will result in little to no changes without undertaking an analysis.
