Gear up for the change in approach to recognizing revenue. The new revenue recognition standard, ASC 606, fundamentally changes how companies approach revenue recognition. Don’t face these new challenges alone.
Partner with a proven group of CPAs and consultants who walk clients through the newly converged standards and provide guidance on how changes impact people, policies, processes, and systems. Use sound processes such as tiered pricing, marketing offers, volume discounts, contract modifications, and a host of other potential contract terms to minimize financial exposure.
With expertise in accounting and financial reporting, tax compliance, processes and systems, an experienced team is ready to help organizations understand and prepare for the new revenue recognition standard. Services include:
- Readiness assessments
- Implementation plans
- Reviewing contract terms
- Recommending contract changes
- Assisting with changes to accounting systems
- Evaluating impact on financial reporting
- Training and education
- Comment Letter to Notice 2017-17 Regarding Potential Tax Ramifications of Adopting Revenue Recognition Under ASC 606
- Construction and Real Estate Industry - Revenue Recognition Overview
- Health Care Industry - Revenue Recognition Overview
- Manufacturing and Distribution Industry - Revenue Recognition Overview
- Technology and Software Industry - Revenue Recognition Overview
- AICPA Revenue Recognition Resource Center
- FASB/IASB Joint Transition Resource Group for Revenue Recognition
Colleen Cooke-Varallo, CPAWith over 25 years of public accounting experience, Colleen has been an integral part of a number of attestation engagements including audits, reviews, and compilations for clients with revenues ranging from $1 million to over $200 million. Other areas of expertise include international accounting, IFRS, and revenue recognition.