ASC 606 Implementation Road Map

Construction workers working on a building

Revenue recognition is a common topic at industry events and in various accounting resources—and it’s not something to delay preparing for. For many in the construction industry, implementing ASC 606 seems like a daunting task with a lot of uncertainty and lack of clarity. Check out this helpful resource that can serve as a guide to walk you through the process. Here’s an excerpt from the article:

“December 31, 2019, is fast approaching. For those who have been working through the various issues related to the application and adoption of ASU 2014-09, Revenue from Contracts with Customers, congratulations on your efforts. If you do not feel as far along in the process as you would like to be with year-end quickly approaching, read on for an overview of best practices for implementation.”

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BKD is a Principal Partner of the Construction Financial Management Association (CFMA). This resource first appeared in CFMA Building Profits and was posted on bkd.com with permission. BKD Trusted Advisors are regular contributors to this publication.

 

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