In part two of our Revenue Recognition Webinar Series we will review how the new revenue recognition guidance will impact construction and engineering companies. Failure to understand the new standards could result in improper revenue recognition directly impacting financial performance. This could have a cascading effect on areas such as loan covenants, taxes, surety requirements and employee performance incentive/bonus plans that are tied to revenue or net income. Construction and engineering companies should start reviewing their contracts with customers now, as it will allow for time to make required modifications to agreements and internal processes, policies and procedures, and get ready for this new standard implementation in advance of the effective dates.
We recommend listening to our General Revenue Recognition Overview “Smart Business Education Series – Exploring the New Revenue Recognition Standard, How it Will Impact Your Business and the Roadmap to Implementation” webinar, Part One, on our website (here), if you haven’t already, before attending Part Two.Back to All Events