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Question 2 (ASC Required - 20 points): You are the CFO of a construction company which does enough work with local, state, and federal governments
Question 2 (ASC Required - 20 points): You are the CFO of a construction company which does enough work with local, state, and federal governments such that your operations are classified as regulated operations. It's 2008 and the financial crisis has struck in full force and these governments are cutting their budgets rapidly. You fear you may need to just walk away from some projects you previous begun. Determine the correct accounting for if this is the case and create a method your Chief Operating Officer can use to determine which projects should be abandoned and which should be completed
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