This webinar was presented as part of a recent event co-hosted by Insight Venture Partners and MorganFranklin Consulting to help companies prepare for the introduction of a significant new accounting standard, ASC 606.
NEW REVENUE ACCOUNTING RULES (ASC 606) WEBINAR
Insight Venture Partners is partnering with MorganFranklin Consulting to host a webinar to help companies prepare for the introduction of a significant new accounting standard, ASC 606.
ASC 606 applies to all contracts with customers (with select exceptions) and can change how revenue is recognized both in timing and amount. These changes in revenue recognition have the potential to impact a company in a variety of different areas beyond just financial reporting, including incentive plans, commissions, and debt agreements, among others.
ASC 606 becomes effective for all public companies (and those in the process of going public) on January 1, 2018 and for all privately-held companies on January 1, 2019. The implementation process can be long and difficult for many companies though, so it is important that management teams begin to understand the changes now and budget the appropriate amount of time and resources to address them proactively.
On the webinar, MorganFranklin will provide an overview of ASC 606 as well as best practices for addressing the required changes and implementation “lessons learned.”
Download the presentation slides here. For more information about how MorganFranklin can assist your organization, visit our Technical Accounting and Financial Reporting page.
Download our guide on ASC 606
Whether or not you’ve implemented already, our guide provides you steps in the right direction.
WHAT’S IN THE E-BOOK
Identify the strategic opportunities in compliance
- How to engage and educate stakeholders across your company
- How to meet unexpected challenges: the value of a dedicated project manager
- How to build a path to compliance before your company’s reporting deadline
- Why you need a customized adoption plan
Get up to speed on revenue recognition
Several methods may lead to compliance with the new ASC 606 revenue recognition standard, but only one is best for your company’s future growth. See how we can help you adopt ASC 606 by the fast-approaching deadline for private companies.