How will ASC 606 Revenue Recognition Affect Your Organization?

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  • Days until public companies must comply
  • Days until private companies must comply

Companies need to begin the process NOW to determine how much of an impact the changes will have on their contracts, process and controls.

This far-reaching accounting standard will impact many organizations, and more intensely than most are anticipating.

Accounting Standards Codification (ASC) 606 Revenue from Contracts with Customers affects a broad spectrum of organizations (also see ASU 2014-09), including construction, insurance, healthcare, manufacturing, not-for-profit, real estate and technology companies. Many organizations will see the most impact in the manner in which they need to account for their revenue, not in the final revenue on their financial statement.

Essential ASC 606 Guide

Understand key topics to help you through the complex process of assessing the impact and developing an implementation plan for your organization from identifying the contract through updating your internal controls over financial reporting with our essential revenue recognition guide, and industry supplements.

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What will be impacted?

  • Key Financial Ratios
    Key Financial Ratios
  • Sales
    Sales
  • Customer Contracts
    Customer Contracts
  • Technology Systems
    Technology Systems
  • Accounting Processes
    Accounting Processes
  • Internal Controls
    Internal Controls
  • Compensation Structures
    Compensation Structures

ASC 606 Webinar Series >

View educational recordings and presentation slides on the five elements of revenue recognition, disclosures, cost of capitalization, and more.

    “ASC 606 is quite complex. I appreciate that Baker Tilly developed a series of webinars dedicated to healthcare clients. I also appreciate it being broken down into four smaller webinars versus just one session. This allows the material to be digested and time for questions to be developed between webinars.”
    Carolyn N. Jacobs, RN, BSN, CPA
    Chief Financial Officer, Messiah Lifeways

    Articles on ASC 606 >

    Learn more about the new revenue recognition standard through in-depth articles covering all of the aspects from understanding the base elements to determining the transition method right for your organization.