Revenue Recognition Impact on Engineering & Construction Industry

Subscribe to weekly Revenue Recognition Update   GAAP has carved out a special niche for construction contractors. While there is no FASB Statement for this area, AICPA Accounting Research Bulletin (ARB) No. 45, Long-Term Construction-Type Contracts, (1955) and AICPA Statement of Position (SOP) 81-1, Accounting for Performance of Construction-Type and Certain Production-Type Contracts, (1981) address … Continue reading Revenue Recognition Impact on Engineering & Construction Industry