Skip to main content

RevSym

The time is here: Make your ASC 606 decisions now!

ASC 606

The new year is here, which means the ASC 606 effective date is past due for public companies. Private companies have the luxury of one more year to adopt the new guidance but should not underestimate the timeline for the adoption process and the impact of the new guidance; specifically, just how far reaching the changes in the guidance are in terms of the financial as well as the operational impact they have for companies.

The Impact of ASC 606

By Nazish Khan | February 8th, 2018

Teaming with Tony: What there is to learn about implementing ASC 606—Backlog disclosures

implementing ASC 606

Setting the stage

In the September 2017 volume of The Analyst’s Accounting Observer, R.G. Associates surveyed 391 S&P 500 firms’ 10-Q disclosures with December and January year ends to understand the effects of the new revenue recognition standard to publicly traded firms. Based on the disclosures reviewed, only 7 (1.8%) companies have explicitly stated that implementing ASC 606 will have a material impact, while the rest have an expectation of no material impact or remained mum on the impact as of their Q2’17 financial disclosures.

By David Williams | December 13th, 2017

Find the Best Solution for ASC 606 without the Long, Arduous Journey

ASC 606

ASC 606 is one of the biggest changes the accounting world has seen in decades, and the deadline for compliance is just around the corner. However, many companies are still in the early assessment state; surveys show that companies are unprepared to meet the January 1, 2018, deadline.

By Roxanne Oulman | July 31st, 2017

Sales ops, get ready. ASC 606 will change your life

ASC 606

ASC 606 is groundbreaking accounting literature. If you’re in sales operations, why should you care? Most accounting teams are scratching their heads to figure out the revenue side of Revenue Recognition ASC 606, as the deadline for compliance is just a whisker away, falling on January 1, 2018. But what most companies are overlooking is the equally large impact on the cost side.

By Poornima Mohandas | July 20th, 2017
Subscribe to RevSym