While everyone is focusing on tax reform, a topic that should not be overlooked is the financial statement impact of the new revenue recognition standard ASC 606 Revenue from Contracts with Customers.

ASC 606 rules on revenue recognition provide an opportunity to transform your business for the better, writes FinancialForce CFO Gordy Brooks You no doubt have heard by now about ASC 606. Also known ...

Over the past eight months of this pandemic, we have all seen the rise of e-commerce as a vital necessity for most companies. For many companies, e-commerce has significantly outperformed their ...

In 2016, the Financial Accounting Standards Board (FASB) released a new standard, ASC 606 - Revenue from Contracts with Customers. The new standard is effective for Dec. 31, 2019, financial statements ...

You can look at ASC 606 in one of two ways — as a compliance burden, or as an opportunity for finance leaders to emerge and change the game. Processing Content A survey by Big Four firm EY found that ...

Revenue recognition has always represented a challenge for the construction sector. This basic accounting principle defines the how and when a business addresses income it earns through contracted ...

This past Monday, November 5, 2018, the Financial Accounting Standards Board (“FASB”) published much-sought after guidance regarding the recognition of franchise fees under Accounting Standard ...

The AICPA A&A Focus Series webcast on March 5 offered a comprehensive discussion on accounting, auditing, and assurance developments, highlighted by the latest in a series on revenue recognition, an ...