Use the New FASB Revenue Recognition Standard to Your Advantage

The Financial Account Standards Board (FASB), IRS and other governmental agencies have tried to develop a better control over the revenue recognition, billing practices and income tax obligations for contracting companies. In 2015, a law was enacted which changed the way revenue is recognized. Contractors need to know how to deal with this change and how it can help them recognize activities they historically did not get paid for and had to hide as part of their cost code. This program will introduce the new law and explain how it can be used to the contractor’s advantage with the help of ASTM E2691 Job Productivity Measurement standard.

Following this course, participants will be able to:

  • Discuss how the new law affects the way revenue is recognized
  • Explain how contractors can use this law to their advantage
  • Describe the Job Productivity Measurement standard
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