Revenue Recognition: Overview of How ASC 606 Impacts Construction Companies
ASC 606 is the revenue recognition standard that affects all businesses—including construction companies—that enter into contracts with customers to transfer goods or services.
The standard is intended to provide an accounting framework for all businesses, whatever the industry, and make it easier for investors and others to compare your construction company’s results with those of other construction companies as well as with companies in other industries.
To help you stay in compliance with revenue recognition standards, save this Construction Issue Sheet.