Revenue Recognition Resource Center
In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606), which added Topic 606 to the FASB’s Accounting Standards Codification (ASC) and will replace almost all pre-existing revenue recognition guidance in legacy generally accepted accounting principles (GAAP) with a robust framework for addressing how an entity should account for its revenue. Implementation by calendar year-end public entities must occur no later than January 1, 2018 and by other calendar year-end entities no later than the year ending December 31, 2019.
This resource center provides access to high-level and detailed information about the new revenue recognition guidance.
An overview of the new guidance in ASC 606 (as amended) and highlights of the fundamental changes ASC 606 will bring.
Our whitepaper explains how a private company can be in a position to efficiently adopt the FASB’s new revenue recognition guidance.
Our whitepaper demonstrates that private companies should light the fire of urgency with respect to implementing FASB ASC 606.
Two executives discuss their experiences implementing ASC 606 and draw the same conclusion: It takes more time than you expect.
RSM professional talks about the impacts of the new revenue recognition standard and its effect on private equity firms.
Listen and learn: Insights on how the new revenue recognition standard (ASC 606) will affect your PE portfolio investments.
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