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5 Ways to Prepare for New Revenue Recognition Standards

Viewpoint Construction Technology

The new GAAP revenue recognition standards developed by the Financial Accounting Standards Board are here, and these standards are designed with complex projects in mind. When implemented properly, they offer improved cash flow and better accounting insight, which benefits contractors and customers. Identify the Contract.

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Better Manage Construction Costs Schedules and Quality

Job Order Contracting

The errors and poor processes result in change orders, project delays, and legal disputes. A detailed scope of work is associated with a detailed line item cost estimate and builder’s proposal based upon a locally researched unit price book. 10% are due to site related productivity issues, most of which could have been foreseen.

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Job Order Contract Implementation

Job Order Contracting

From an owner perspective stakeholders include senior management, project management, administrative, accounting, purchasing, building uses, and legal staff. Stakeholders need to clearly discuss and establish the goals of the job order contract, associated milestones, timelines, and resource requirements.

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Construction quality management: Everything you need to know

Lets Build

Issues may arise around ownership and accountability, roles and responsibilities, tools and materials. If it’s a new situation, it may be necessary to devise workarounds to issues as diverse as legal risks, worker training, or cash flow concerns. Book a demo to find out more.

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Legal Fallout Spreads from Trainor Glass Default | ENR.

ENR Construction

Book Reviews. Legal Fallout Spreads from Trainor Glass Default. Enter your print subscription account. Washington Observer. Economic Stimulus. Product Snapshot. Interviews. People on the Move. Obituaries. Multimedia. Annual Photo Contest. Photo Contest Archives. Slideshows. Reader Photos. ENR Midwest. ENR Mountainstates.

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How ACS Connect Smooths Jobsite Data to Accounting | ENR.

ENR Construction

Book Reviews. How ACS Connect Smooths Jobsite Data to Accounting. Description: Shipping Project Data to Accounting With A Pause for Review. Enter your print subscription account. Washington Observer. Economic Stimulus. Product Snapshot. Interviews. People on the Move. Obituaries. Multimedia. Annual Photo Contest.

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Construction Business Owner Blogs

Construction Business Owner

ACCOUNTING |. Accounting & Finance. I just finished reading Steven Rattner’s book, Overhaul – An insider’s account of the emergency rescue of the automakers. I learned something from reading this book. Tags accounting. accounting software. Construction Accounting Software.