Mike Karlins, Partner with Calvetti Ferguson (The Woodlands, TX), was published in the Construction Accounting and Taxation magazine’s January/February 2019 edition. His article focusing on Revenue Recognition encompasses the newly effective standards aimed to establish principles for reporting useful information to financial statement users and educates them on the effect they will have for contractors.
The article goes into detail on the following areas:
- Identifying contacts with customers
- Assessing multiple performance obligations
- Series of performance obligations
- Evaluating variable considerations
- Uninstalled materials
- Recognizing revenue
- Fulfillment costs
- Capitalized costs to obtain a contract
- Reporting period effective date
Read the full article here or for additional information, email Mike or (832) 742-2411.