Webinar: Optimizing Systems for a Successful ASC 606 Adoption
As companies prepare to adopt ASC 606, there are many things to consider from a systems perspective. From correctly adjusting or configuring a company’s ERP to implementing the right systems and processes, navigating the new guidelines can be challenging for companies that are not prepared. For instance, managing revenue in Excel may make sense in the near term, but is not scalable when introducing the new guidelines. Or companies may not have considered the downstream impact of managing adoption for their current ERP system. Additionally, amortizing costs over the contract or disclosures, such as unbilled contracts, are creating new difficulties.
In this webinar, Riveron’s Brent Fisher and Mark Jistel and NetSuite’s Chuck Bunting discuss the ways that companies can prepare for ASC 606 adoption from a systems perspective, and learn how solutions like NetSuite can support companies to achieve compliance.
Connect with an Expert
No Managing Directors matched your search.
Riveron experts discuss the complexities of contract modifications within the context of ASC 606 as many SaaS providers offer software companies the option to convert their current on-prem subscription contracts to later in the contract term.
Although calendar year-end companies are required to adopt the new Revenue Recognition standard (ASC 606) as of the beginning of this year, many have deferred implementation activities until nearer to their financial reporting deadlines. While understandable, preparing well in advance for the switch is critical as developing and executing an implementation plan will likely require more time than anticipated.