HOW WILL REVENUE RECOGNITION AFFECT YOUR COMPANY?
Have you assessed the impact of the new Rev Rec standards? FASB’s new guidelines for revenue recognition (ASC 606) fundamentally changes how companies across nearly every industry will recognize revenue. If you’re just getting started on your plan to address ASC 606, the process can be overwhelming. From start to finish, we can manage your revenue recognition projects or take on discrete tasks like revenue contract review or financial system analysis, so you can focus on running your business.
Need some Revenue Recognition help? Let’s Talk
We can help you:
- Scope and assess the complexity of your revenue models under the new rules
- Measure the financial statement impact for select revenue arrangements, allowing you to estimate business impact
- Determine the level of effort needed to implement the new rules
- Develop an implementation road map
- Strategize on key decisions, including adoption method and system solutions
- Provide strategic insights for a successful implementation
- Deliver internal training to finance, sales, the board or other groups, geared to their level of knowledge
- Here’s the high level Bridgepoint Rev Rec assessment methodology
In addition to the legwork, Bridgepoint can help you get prepared for board and investor questions, help you leverage internal resources to save money and gain internal expertise, and reduce your risks by conducting a proactive evaluation of your systems and design of controls.
Learn more about our proven approach and services here.
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