AICPA Revenue Recognition Task Forces are charged with developing revenue recognition implementation issues that will provide helpful hints and illustrative examples for how to apply the new Revenue Recognition Standard.
Task Force Members:
- Mike Sobolewski, PricwaterhouseCoopers LLP (Co-Chair)
- Tim Wilson, BKD LLP (Co-Chair)
- John Armour, CBIZ
- James Brant, Deloitte
- Reed Brimhall, URS
- Michael Desormeaux, Grant Thornton LLP
- Bill Patt, Mortenson Construction
- Erin Roberts, Ernst & Young LLP
- Michael Samson, KPMG LLP
- Geoff Sanders, Jacobs
- Alison Spivey, Ernst & Young LLP
- Louis Torres, BDO LL
- Cynthia Vandenberg, Fluor
- Darrin Weber, IMA
- John Weber, RSM US LLP
Staff Contact: Fred Gill, Frederick.Gill@aicpa-cima.com
FASB ASC 606 Revenue Recognition: Engineering and Construction Entities Webcast
The Engineering and Construction Revenue Recognition Task Force will hold an informational webcast on December 14, 2017 1:00pm-2:00pm ET. The webcast will discuss FASB ASC 606 implementation issues for engineering and construction entities, and provide insight into the development of the issues and potential changes in practice.
- Overview of FASB ASC 606 implementation issues for engineering & construction entities
- Understanding of the Task Force discussions on the implementation issues
- Understanding of potential changes in practice related from the adoption of FASB ASC 606
Identified Revenue Recognition Implementation Issues
Below is a list of potential revenue recognition implementation issues identified by the Engineering & Construction Contractors Revenue Recognition Task Force. The list will be updated as the task force continues it discussions. Full revenue recognition implementation issues will be posted below for informal comments after review by the AICPA Financial Reporting Executive Committee (FinREC).
The Task Force has removed and/or addressed selected implementation issues included in the original plan.
Draft Revenue Recognition Implementation Issues included for informal comment, when available, will be listed below.
Respondents should submit any comments including the implementation issue number to Frederick.Gill@aicpa-cima.com by the dates noted below:
The Engineering & Construction Contractors Revenue Recognition Task Force recommends the following AICPA products for current revenue recognition issues: