by Kevin Lalor | Mar 21, 2017
We’ve covered the ASC 606 roll-out a number of times already (for more details, check out our Revenue Recognition Hub), but sometimes it’s important to take a step back and see where the rest of the industry stands. This isn’t meant to make...
by Kevin Lalor | Mar 16, 2017
New ASC 606 rules aren’t far away, and professional services companies that fail to start adapting now will probably find themselves struggling when the implementation date gets closer. For those who aren’t yet aware, or need a short primer: ASC 606 is...
by Kevin Lalor | Feb 7, 2017
The current GAAP standards for cloud and SaaS software companies, SOP 97-2 and ASC 985, will soon be obsoleted in favor of ASC 606, which is the new gold standard for revenue recognition. ASC 606 does simplify and streamline a number of revenue recognition...
by Kevin Lalor | Jan 24, 2017
ASC 606, Revenue From Contracts With Customers, changes the way that software and professional services companies, among others, need to record and recognize revenue from their various contracts. It’s one of the big new changes that we’re keeping tabs on closely this...
by Kevin Lalor | Jan 17, 2017
Above: The Enron complex, photo courtesy Wikipedia Revenue recognition, at its core, is an accounting principle that specifies the conditions where revenue is recognized or accounted for, and follows generally accepted accounting principles (GAAP). Revenue...
by Kevin Lalor | Jul 21, 2015
New revenue recognition standards are fast approaching and companies everywhere need to begin shifting towards these new regulations now. This is a complex process that affects multiple levels of your organization and early preparation is the key. In order to be...