With the first key effective date of Accounting Standards Codification (ASC) 606 quickly approaching, the time to understand the impact to your business and what you need to do about it is now. Most contractors earn the majority of their revenues from contracts with customers. Therefore, they will be impacted by the new accounting standard in some manner. Even if there is no change in top-line revenue, there may be a difference in the accounting process to reach that number.
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