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SOURCE Construction Financial Management Association
PRINCETON, N.J., June 27, 2014 /PRNewswire-USNewswire/ -- The Construction Financial Management Association (CFMA) hosted a webinar attended by over 1,000 people on Tuesday, June 24th, which provided an update on the Revenue Recognition Standard recently published by the Financial Accounting Standards Board (FASB).
Steve C. Tenney, CFMA's Chairman, said "We are pleased to be able to rise to the occasion and meet the needs of our membership by providing information on this hot topic, educating our members and advocating on behalf of the industry to FASB and other construction financial professionals." This new standard has been years in the making, and CFMA has been deeply involved with its impact on the construction industry during this project. Stuart Binstock, CFMA's President and CEO, added, "We are excited to provide this free member benefit not only to our members, but also to the membership of our affiliate organizations that we work closely with throughout the year."
The webinar discussed how the new Revenue Recognition Standard will impact your company and the construction industry as a whole; outlined the new standard implementation timeline; and explained what needs to be done to prepare your business for the implementation of this new way of determining revenue.
The presenters of this webinar were Michael J. Sobolewski, CPA, Partner, PricewaterhouseCoopers and Timothy T. Wilson, CPA, CCIFP, Partner, BKD LLP. This webinar was open to everyone but mostly recommended for Owners, CEOs, CFOs, Controllers, Treasurers, Construction industry CPAs, General Contractors, Subcontractors, Risk Managers, Insurance and Surety professionals.
To receive a recording of this webinar for free, Log into your account or create a new one on www.PROLibraries.com/cfma , Click on "Add a Conference Code" in the left hand panel, and use code: PRNWREVREC. Click on "My Webinars" and you should see the title of the session with a link to view the archive.
CFMA is the only non-profit organization dedicated to serving financial professionals in the construction industry. Established in 1981, it serves more than 6,600 members in 89 chapters across the United States and Canada, publishes an award-winning business journal, CFMA Building Profits, and offers a variety of educational and professional development and connection programs through its chapter network, at its Annual Conference & Exhibition, and online education. Membership in CFMA provides construction financial professionals with unique opportunities for industry networking, career development, and personal and professional growth. Visit www.cfma.org for more information.
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