With Special Guest:
Emilio Alvarez, CPA
Principal, EF Alvarez & Company
This Month's Topic:
Revenue Recognition in the Construction Industry
Our presenter will be Emilio Alvarez, CPA one of the nation’s most respected names in construction accounting.
Before 2019, contractors had industry-specific guidance for how to count and report their income under U.S. generally accepted accounting principles (GAAP). Taking their place is Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers. The important new term for this is “performance obligation,” which isn’t necessarily the same as a single contract. Under the new rules, the key takeaway is that construction businesses need to use ASC guidance to identify each performance obligation and the most appropriate way to account for its revenue as it’s delivered.
Our presentation will be held at Mariposa in Neiman Marcus at Merrick Park. Join us for cocktails at 6 pm followed by dinner and our presentation at 7pm. Make sure you, your CFO, and the rest of your financial team join us to learn firsthand how these new rules will impact your business.
Mariposa at Merrick Park
390 San Lorenzo Avenue | Coral Gables FL 33146