Construction Contractors 2015

Considered the industry standard resource, this 2015 edition is packed with information on new requirements, including relevant changes to the FASB Accounting Standards Codification. Whether you are in public accounting, performing assurance services, or you operate in the industry, this resource has the information you need to perform at your best. Highlighting practical tips and industry specific guidance, this guide provides value from simple accounting to joint venture creation. With two complete sets of financial statements and disclosures, it provides an industry accepted blueprint from where to start, or a reference for auditing the final product. Key benefits: includes an informative appendix discussing FASB ASU 2014-09 Revenue from Contracts With Customers; recently overhauled Percentage-of-Completion financial statements; recently overhauled supplemental information disclosures, including sample auditors' reports; recently overhauled Completed-Contract financial statements; discussion of other FASB ASUs affecting the industry, including: 2014-05, Service Concession Arrangements (Topic 853) (a consensus of the FASB Emerging Issues Task Force); 2014-07, Applying Variable Interest Entities Guidance to Common Control Leasing Arrangements (a consensus of the Private Company Council); 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360)--Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity; 2014-17, Business Combinations (Topic 805): Pushdown Accounting (a consensus of the FASB Emerging Issues Task Force); Other relevant FASB ASUs through the publication date of May 1, 2015.