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.
Download the ASC 606 guide
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What will be impacted?
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
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.