Business
Legal and Regulatory

Significant Impacts of Revenue Recognition Under New Topic 606

Understanding the new revenue recognition standard is essential to determine how it will impact contractors' financial statements.
By James Wiedemann and Robert Mercado
May 27, 2021
Topics
Business
Legal and Regulatory
by James Wiedemann
James Wiedemann, CPA is a director in the Assurance Services division of Marcum LLP’s New Haven, Connecticut, office. He provides compilation, review and audit procedures in the construction and manufacturing industries. Marcum LLP’s Construction Services group provides audit, consulting, and taxation services to clients ranging from start-ups to multi-billion-dollar enterprises. Marcum LLP's Construction Services group provides audit, consulting, and taxation services to clients ranging from start-ups to multi-billion-dollar enterprises and publishes the annual Marcum National Construction Survey, the quarterly Marcum Commercial Construction Index, the Marcum PAS Contractor Compensation Quarterly, and the annual Marcum JOLT Survey Analysis of construction employment trends--and presents an ongoing series of industry summits and technical webinars focused on the unique needs of construction contractors.
by Robert Mercado

Robert Mercado, CPA, CCIFP, is based in Marcum’s New Haven, Conn. Office, where he specializes in conducting, reviewing and analyzing financial information for construction contractors, manufacturers and service corporations. Marcum LLP’s Construction Services group provides audit, consulting, and taxation services to clients ranging from start-ups to multi-billion-dollar enterprises. Marcum LLP's Construction Services group provides audit, consulting, and taxation services to clients ranging from start-ups to multi-billion-dollar enterprises and publishes the annual Marcum National Construction Survey, the quarterly Marcum Commercial Construction Index, the Marcum PAS Contractor Compensation Quarterly, and the annual Marcum JOLT Survey Analysis of construction employment trends--and presents an ongoing series of industry summits and technical webinars focused on the unique needs of construction contractors.

 

Related stories

Business
Construction Futures: June 2025 Economic Roundup Cover Art

Construction Futures: June 2025 Economic Roundup

By Construction Executive
Could there be more rate cuts than the construction industry originally expected this year?
Business
It’s All Relative: The Importance of Building and Maintaining Relationships in Construction Cover Art

It’s All Relative: The Importance of Building and Maintaining Relationships in Construction

By Chad Prinkey
In a world where relationships seem to be taking a backseat to digital “connectedness,” executives from a recent Associated Builders and Contractors’ panel discussion agree that where construction is concerned, rapport still matters.
Business
Tariffed Construction Materials Prices Rise in May Cover Art

Tariffed Construction Materials Prices Rise in May

By ABC
The tariffs are taking effect—and materials prices are reflecting that.

Follow us




Subscribe to Our Newsletter

Stay in the know with the latest industry news, technology and our weekly features. Get early access to any CE events and webinars.