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ORGANIZATION AND OPERATIONS OF THE COMPANY (Tables) | 12 Months Ended
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Dec. 27, 2019
ORGANIZATION AND OPERATIONS OF THE COMPANY |
Schedule of cumulative effect of initially applying ASC 606 as an adjustment to retained earnings | The Company recognized the cumulative effect of initially applying ASC 606 as an adjustment to retained earnings in the balance sheet as of December 30, 2017 as follows:
|  | Balance at |  | Adjustments |  | Balance at
|  | December 29, |  | Due to |  | December 30,
|  | 2017 |  | ASC 606 |  | 2017
|  | (in thousands)
Assets |  |  |  |  |  |  |  |  |
Accounts receivable, net of allowance for doubtful accounts |  | $ | 38,441 |  | $ | (8,560) |  | $ | 29,881
Contract assets |  | $ | 24,732 |  | $ | 9,328 |  | $ | 34,060
Liabilities |  |  |  |  |  |  |  |  |
Deferred income taxes, net |  | $ | 2,463 |  | $ | (215) |  | $ | 2,248
Equity |  |  |  |  |  |  |  |  |
Retained earnings |  | $ | 19,588 |  | $ | 553 |  | $ | 20,141
The impact of adoption on its condensed consolidated balance sheet and cash flows for the fiscal year ended December 28, 2018 was as follows:
|  | For the year ended December 28, 2018
|  | As |  | Balances Without |  | Effect of Change
|  | Reported |  | Adoption of ASC 606 |  | Higher/(Lower)
|  | (in thousands)
Assets |  |  |  |  |  |  |  |  |
Accounts receivable, net of allowance for doubtful accounts |  | $ | 61,346 |  | $ | 68,240 |  | $ | (6,894)
Contract assets |  | $ | 51,851 |  | $ | 44,981 |  | $ | 6,870
Liabilities |  |  |  |  |  |  |  |  |
Deferred income taxes, net |  | $ | — |  | $ | 112 |  | $ | (112)
Equity |  |  |  |  |  |  |  |  |
Retained earnings |  | $ | 30,171 |  | $ | 29,889 |  | $ | 282
|  | For the year ended December 28, 2018
|  | As |  | Balances Without |  | Effect of Change
|  | Reported |  | Adoption of ASC 606 |  | Higher/(Lower)
|  | (in thousands)
Cash flows from operating activities |  |  |  |  |  |  |  |  |
Accounts receivable, net of allowance for doubtful accounts |  | $ | 3,177 |  | $ | (3,717) |  | $ | 6,894
Contract assets |  |  | (11,539) |  |  | (4,645) |  |  | (6,894)
Total cash flows used in operating activities |  | $ | (8,362) |  | $ | (8,362) |  | $ | —
Schedule of contracts by reportable segments and type of contracts |
Segment | Contract Type | Revenue Recognition Method
| Time-and-materials | Time-and-materials
Energy | Unit-based | Unit-based
| Software license | Unit-based
| Fixed price | Percentage-of-completion
| Time-and-materials | Time-and-materials
Engineering and Consulting | Unit-based | Unit-based
| Fixed price | Percentage-of-completion
Schedule of the estimated useful lives used to calculate depreciation and amortization |
Category |  | Estimated Useful Life
Furniture and fixtures |  | 5 | years
Computer hardware |  | 3 | years
Computer software |  | 3 | years
Automobiles and trucks |  | 3 | years
Field equipment |  | 5 | years

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