Riveron Roundup: Revenue Recognition (ASC 606)
The new revenue recognition guidance, ASC 606, will have a significant impact on the way that companies recognize and report revenue. Although non-public companies are required to adopt the new standard for fiscal years beginning in 2019, there is still time to develop and complete a thoughtful implementation plan for those who have yet to begin or are still in the planning stages. Private companies can leverage lessons learned from public company adoptions to ensure a seamless and stress-free transition to the new standard. The following Riveron resources serve as a guide for navigating the various challenges and complexities companies may face during the implementation process.