RubinBrown is holding a seminar on the topic, which has already generated a ton of interested from the St. Louis business community. The first session sold out in less than a day, so RubinBrown is now offering an afternoon session on Thursday, Oct. 5. Registration for this new session is available at http://www.rubinbrown.com/event-details.aspx?eid=4004&m=10&d=5&y=2017 and they expect this session will sell out, as well.
The new Revenue Recognition rules will be affecting nearly every industry, though some will be impacted more than others. That’s one of the questions we’re hearing the most – “What’s the end result, and how will this affect my particular industry/business?”
Eric Janson noted that, specifically for the construction industry, we’re going to see changes to how incentives, claims and uninstalled materials are recognized. Additionally, contractors will notice significant changes. Companies will be seeing changes not only in accounting, but it also may impact compensation agreements, loans, etc.