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“Don’t let the light at the end of the tunnel be an oncoming train!”
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When: Wednesday, November 29
From 7:30-10:00 AM
Where: Courtyard by Marriott Boston/Woburn
700 Unicorn Park Drive
Woburn, Massachusetts  01801
United States

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“Don’t let the light at the end of the tunnel be an oncoming train!”

WEDNESDAY, November 29, 2017
7:30 – 10:00 AM | Courtyard by Marriott Boston/Woburn

Vincenzo Botta and Jack Malley, from Rucci, Bardaro & Falzone PC will present the new accounting standard update.

New accounting standards are ahead and there is a significant amount of work to be done ahead of time. This means that the sooner companies begin to adapt, the less painful and costly the changeover will be.

New Revenue Recognition Standard

  • It will affect nearly every business.
  • Contracts will have to be more detailed.
  • Contract-writing and revenue-booking habits will need to be adjusted.
  • Performance obligations documented prior to the start of a job.
  • Work-in-process schedules will have to be re-cast with performance obligations in mind.
  • Financial statements will include a significant increase in disclosures.

New Lease Accounting Standards

  • The new lease change may affect how financial ratios are viewed by banks and bonding companies.
  • The new lease standard will likely change your financial statements in several significant ways.
  • Ratios such as debt-to-equity will be negatively impacted.
  • Covenants based on those ratios will need to be adjusted to reflect the change.


Jack Malley, Partner
Rucci, Bardaro & Falzone PC

Jack Malley, CPA provides financial, systems and operational consulting services to companies in various stages of growth.

Vincenzo Botta, Partner
Rucci, Bardaro & Falzone PC

Vincenzo Botta, CPA, CGMA has over 15 years of experience in public accounting concentrated in the construction industry.  Mr. Botta has been with Rucci, Bardaro & Falzone since 2002.  He also provides accounting, tax and consulting services to manufacturing, wholesalers, and performs audits of employee benefit plans. 

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