ASC 606 – Revenue Recognition – If You Failed to Plan – Have you Planned to Fail?
June 22, 2017 @ 1:00pm
The December 2017 implementation date for the ASC 606- Revenue Recognition Standard is approaching quickly. Have you taken the steps to understand the extent of what is contracted within your organization? Do you know the location and the content of your revenue related contracts within the company? Are your contracts retained locally, in multiple locations, or in other countries? Have you interpreted all of your contracts containing revenue transactions? Are they highly customized based on business practices? Does your organization have the methods and systems that can properly maintain such contract data going forward?
Clark Schaefer Consulting is pleased to present our next monthly webcast on ASC 606 – Revenue Recognition. We’ll review the overall requirements, the history, and an approach to be considered as we move closer to the implementation date. Compare your organization’s progress to the approach presented and ask yourself if your implementation team is making progress on your implementation plan. Have you considered the many definitions and the processes changes needed to implement the new standard? Will you be ready when December 15, 2017 comes?