Bottom Lines - June 2014

New Revenue Recognition Standard Released
The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) issued jointly a converged standard on the Recognition of Revenue from Contracts with Customers. CFMA is delighted to launch its guidance to the construction industry during its 2014 Annual Conference & Exhibition in Las Vegas, NV, with a session on June 10, held in conjunction with featured speaker Billy Atkinson, Private Company Council (PCC) Chairman. The Revenue Recognition presentation, to be led by Michael Sobolewski, Partner, PricewaterhouseCoopers, and Tim Wilson, Partner, BKD, will provide attendees with background knowledge of the standard and high-level insight into the changes, expected improvements, and what it means for financial reporting in the construction industry. CFMA will follow-up the Revenue Recognition session at the conference with a free webcast on June 24, taking a deeper dive into the new standard’s specifics. The award-winning CFMA Building Profits will also cover the topic in upcoming issues. Visit CFMA’s Revenue Recognition Hub for the latest information!

Risks of Economic Recovery Are Here to Stay & What You Can Do About It
By Scott Wolfe
With nearly half of 2014 in the books, many of the risk factors from a recovering economy have started to surface. As the industry moves into the busy summertime, it’s time to look at what’s happening and reiterate the imminent risks and protections available. Continue reading.

Construction Employment Increases in 220 out of 339 Metro Areas
Construction employment expanded in 220 metro areas, declined in 70 and was stagnant in 49 between April 2013 and April 2014, according to a new analysis of federal employment data released today by the Associated General Contractors of America. Continue reading.

Live Conference Sessions from Your Home or Office, Now Featuring the New Revenue Recognition Session!
Can’t make it to CFMA’s Annual Conference and Exhibition? Maybe you have a colleague or friend who can’t? Here is your chance to view some of our most eagerly anticipated sessions, including the recently released Revenue Recognition standard session, LIVE! With material to suit any construction finance professional’s need, you can now purchase a package of nine sessions for $399 ($479 for non-members), four sessions for $179 ($299 for non-members), or individual sessions at $59 ($99 for non-members). Click here for more information and to purchase.

CFMA’s Question of the Month:
How Do Your Employees (all personnel) Submit Their Timesheets?

Share your opinion! It’s fast and easy and we want to know what you think! Results are delivered immediately after answering the polling question so you can see what everyone else thinks, too! Click here to participate.

2014 CFMA Financial Survey Online Questionnaire Is Open through July 21!
We are looking for your data to ensure the 2014 Survey results are a robust representation of our industry! To access the Online Questionnaire, simply log on to www.financialbenchmarker.com and click on the big green burst in the upper right. Questions, comments, or suggestions? Contact Fern Oram at 609-945-2494.

CFMA Partners with JBKnowledge on Their 2014 Construction Technology Report
Look for your e-mail invitation later this week to take the five-minute survey (open through June 30) and, as a survey participant, discover how fellow builders are using cloud, mobile and wearable technology, exploring advancement in augmented reality, and investing in IT resources and staff when you receive your FREE copy of the results! Questions, comments, or suggestions? Contact Fern Oram at 609-945-2494.