New Revenue Recognition for Contractors – Changes Ahead!
Revenue is often used by bonding agents and sureties to measure whether a construction company is successful. So it stands to reason that revenue recognition for contractors – the point [...]
GASB 89 – Interest Cost in Construction
The Governmental Accounting Standards Board (GASB) has released new guidance that sets requirements for interest cost incurred before the end of a construction period. GASB Statement No. 89, announced on [...]
Higher Education Uncertain About Impacts of Tax Reform
Virtually every individual and industry in America will be affected by the Tax Cuts and Jobs Act—including higher education. However, tax reform still lacks clarity. The Internal Revenue Service and U.S. [...]
NCAA Agreed-Upon Procedures: What’s New in 2018?
The NCAA Agreed-Upon Procedures Guide for 2018 has been released, and it remains relatively intact compared to the 2017 version. The vast majority of updates are actually clarifications meant to [...]
FASB Standards and You: Two Important Updates for Manufacturing & Tech Companies
The last few years have brought several new standards from the Financial Accounting Standards Board (FASB). While some of these new FASB standards were rolled out as far back as [...]
New GASB Debt Disclosure Requirements Begin June 15!
State and local governments will now be required to include in their financial statement notes additional information regarding debt held, following the issuance of a new standard from the Governmental [...]