All companies that have financial statements prepared with GAAP principles will need to be ready to comply with the new Revenue Recognition standard. Given that these changes will have varied effects within the construction industry, Grassi has partnered with CICPAC to provide the following resource to help companies experience a smooth and effective transition.
This step-by-step resource will help you navigate the new procedures for identifying contracts, assessing performance obligations, accounting for uninstalled materials, choosing the right method for revenue recognition and more.
In you have any questions about the new Revenue Recognition standard or encounter any challenges during this transition, contact your Grassi Construction advisor.
A full copy of the comprehensive guide can be downloaded here.