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How ASC 606 and IFRS 15 Affects Technology Companies

How ASC 606 and IFRS 15 Affects Technology Companies

One of the main purposes of the Financial Accounting Standards Board’s new revenue recognition standard, ASC 606 and IFRS 15, is to eliminate industry-specific guidance in order to create more consistent reporting across all types of organizations. That means its effect will vary depending on your industry, from “no big deal” to a “very big deal.” Software and technology fall very much into that latter category.

By Jennifer Kling | July 10th, 2018

RevSym by SAP: A Simple Solution to a Complex Problem

RevSym by SAP: A Simple Solution

The Financial Accounting Standards Board’s new revenue recognition standard, ASC 606—the biggest accounting guidance change in recent history— has two main objectives. The first, and probably most important, is to eliminate industry-specific guidance in order to create more transparent and uniform reporting across all types of companies. In other words, to allow for a more generic, apples-to-apples comparison among companies and industries, no matter how diverse.

By Jennifer Kling | June 29th, 2018

Befuddled by ASC 606 and ASC 340-40? You’re Not Alone!

Accounting for commissions and other contract costs under ASC 606

If the survey results from CallidusCloud’s recent webinar on adoption of the new revenue recognition standards, ASC 606 and ASC 340-40, are any indication of what’s going on in American business, this on-demand presentation couldn’t be more timely.

By Jennifer Kling | May 23rd, 2018

ASC 606 and IFRS 15: Don’t Leave Revenue Recognition to Chance

ASC 606 and IFRS 15

If you are reading this blog post, I am going to assume you arrived here because of your interest in or responsibility for revenue recognition. For the last couple of years there has been countless articles, blogs, webinars, conferences, etc. about the new revenue recognition standard ASC 606 and IFRS 15 internationally. You’ve probably seen them all but are still looking for more.

By Jennifer Kling | May 21st, 2018
CallidusCloud is now SAP Sales Cloud. Learn more

Under ASC 606 and ASC 340-40, the costs of obtaining a contract are recognized as assets. Certain costs, such as commissions, need to be capitalized. In this webinar, Matt Svetich of Effectus Group will discuss what to consider preparing for the commission accounting changes. This webinar will review methods for estimating commission amortization as well as supporting audit requirements.

You’ll learn how to:

Automate Revenue Recognition: It’s Not Too Late

automate revenue recognition

ASC 606 (or IFRS 15 internationally) compliance—the biggest accounting guidance change in recent history—is already past due for public companies. It became effective at the beginning of this year, but many private companies still haven’t even started implementation.

By Jennifer Kling | May 8th, 2018
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