Webinar Replay: Recorded 2.23.23
Managing Complex Billing and revenue Recognition in Construction and Large-Scale Manufacturing Companies
Large-scale manufacturing and construction companies have special considerations regarding billing and revenue recognition under the ASC 606 standard. Both industries often follow milestone billing schedules that can become quite complex. Both industries often recognize revenue on a percent-of-transfer basis or proportional to the spend of costs related to an overall cost budget for the project. Many companies desire to project the month-by-month spend of costs to understand the projected month-by-month recognition of revenue, adjusting these projections as actuals come in, period by period.
In this webinar, SOFTRAX examined these complexities, citing examples from the big four and others to show where manufacturers and construction companies have unique considerations.