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Two Sets of Books for Revenue Recognition

06.02.2018 | Published By:

Ellen Wood, Austin

It is not too soon for non-public entities to be evaluating the impact of ASC 606 on their financial reporting and other aspects of their business.  It is recommended that businesses undertake and impact assessment and develop an implementation plan and budget.  Allowance should be made for additional resources that will be required to meet the disclosure requirements including the requirement to keep “two sets of books” in the initial reporting period.

Categories: Finance, Finance Consulting, CFO Consulting

Tags: strategic planning,financial strategy,cfo consulting,financial consulting firms,operational advice,revenue recognition