- Businesses that meet the definition of a public business entity because their financial statements have to include, or be included, with the financial statements or financial information of other public companies can have more time to adopt the FASB's revenue recognition and lease accounting standards. The organizations can adopt the new standards at the same time as private companies, the FASB said in an update to U.S. GAAP.
- Baker Tilly completed Phase 1 of the revenue recognition assessment for an enterprise software company, provides project-based software in the government contracting and services industries.
- New revenue recognition standards will have specific considerations for software and technology companies.
- Included in this e-Book is valuable insight from the SEC Office of the Chief Accountant, as well as a comprehensive guide produced by Baker Tilly on how to effectively scrutinize internal controls over financial reporting beyond what most organizations are currently doing.
- If your organization is in the process of adopting, or still researching, the new revenue recognition accounting standard, then this comprehensive, yet easy-to-read, 60+ page eBook is for you.