In June the International Accounting Standards Board (IASB) and U.S. Financial Accounting Standards Board (FASB) published a draft to improve and align the financial reporting of revenue from contracts with customers and related costs. While an honest effort to reduce U.S. revenue industry standards from more than 100 to five or less and mesh U.S. and international standards, the proposal became impractical, unwieldy and will increase business costs. Construction firms should resist it. div id="articleExtrasA" div id="articleExtrasB" div id="articleExtras" The deadline for comments on the proposal is Oct. 22. The potentially negative impact on construction firms has most industry accountants,