Audit and Accounting

Revenue Recognition

How to meet the ASC 606 standards

Still confused about new revenue recognition standards? Did you implement a quick solution that you’re not sure makes long-term sense? Or have you made a change to your business that means you have to adjust your revenue recognition?

Wipfli’s experienced CPAs and consultants can walk you through ASC 606 standards and provide guidance on how changes impact people, policies, processes and systems.

Our team will work with yours to provide 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, our team is ready to help you with:

  • Readiness assessments
  • Implementation plans
  • Reviewing contract terms
  • Recommending contract changes
  • Assisting with changes to accounting systems
  • Evaluating impact on financial reporting
  • Training and education

Featured Thought Leader

Colleen Cooke-Varallo, CPA

With 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.

Revenue Recognition Lessons

New Revenue Recognition Standard - Put project management on your side. Click to read article.

Revenue Recognition Services Overview

Revenue Recognition: Is your organization ready - 5 question quiz

Featured Insight

ASC 606: A Guide to Understanding the New Revenue Recognition Rules
The new revenue recognition standard has been described as one of the most significant changes to generally accepted accounting principles in the past decade. Gain perspectives into the changes and best practices to prepare for them.

Learn More

Revenue Recognition: Why Should I Care?

The upcoming changes to revenue recognition from contracts with customers are going to be one heck of a storm, and many people don’t know it yet.