As the end of 2018 quickly approaches, construction financial managers (CFMs) should keep in mind how Financial Accounting Standards Board (FASB) Accounting Standards Updates (ASUs) might affect their companies. There are a number of ASUs issued applicable to nonpublic business entities (non-PBEs) for years ending December 31, 2018, and in subsequent years. A list of ASUs applicable for non-PBEs can be found in the exhibit below. This article will focus on two standards included in the list: ASU 2015-17 and Accounting Standards Codification (ASC) 606.
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ASUpdates for Nonpublic Business Entities: What’s New for 2018?
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About the Authors
Greg Brown
Greg S. Brown, CPA, is a Managing Director in the Construction and Real Estate Services Group at Crowe in Dallas, TX.
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Dwayne E. Dillard
Dwayne Dillard is an Audit Partner at Crowe Horwath LLP, one of the largest public accounting and consulting firms in the United States.
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