Firms fear accounting rule change

摘要

Proposed changes to accounting rules may punish contractors who sign up to large projects, writes Michael Willoughby.The change would force listed companies to wait until a project is handed over to the client before declaring revenue, rather than when the money is received.A group of major contractors, including Balfour Beatty, Laing O'Rourke and Costain, has written to the International Accounting Standards Board and the US Financial Accounting Standards Boards to complain about the plans.