VOLUME Construction Advisor Today   ISSUE 140   JANUARY 06, 2012


By Bruce Jervis


Construction contracts commonly recite that all work must be performed in accordance with acceptable industry standards. But what are these standards, and how are they determined? Does a recitation of this nature really add anything to a construction contract? Two recent cases addressed these issues head on. ... Read more.


By Steve Rizer


Expect the global green building industry to continue rebounding in 2012 despite ongoing economic difficulties in most developed countries, according to green building consultant Jerry Yudelson. This is one of 10 green building “megatrends” that he foresees for this year. ... Read more.


By Steve Rizer


The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) have issued for public comment a revised draft standard to change the financial reporting requirements of International Financial Reporting Standards (IFRSs) and U.S. Generally Accepted Accounting Principles (U.S. GAAP) for revenue and some related costs from contracts with customers. The proposal, which would replace IAS 18 Revenue, IAS 11 Construction Contracts and related interpretations, and, in U.S. GAAP, guidance on revenue recognition in Topic 605 of FASB’s Accounting Standards Codification, is expected to become a final standard late this year. ... Read more.





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