Accounting for revenue under the new standard will have a significant impact on the way many companies recognize and report revenue. Riveron’s practical approach ensures an efficient, successful implementation for your company.
Riveron has been monitoring the evolving revenue recognition guidance for more than 10 years and has significant experience advising companies on both the old and new guidance. From a proven, quick-turn gap assessment, to the development and execution of a comprehensive implementation plan, we guide your company’s journey to effectively and seamlessly adopt the new revenue recognition standard.
Our revenue recognition offerings include:
- Gap assessment
- Future state design
- Implementation plan
- Disclosure requirements
- Policy and procedure development
- System requirements
- Project and change management
- Technical accounting
Riveron is not a CPA firm.
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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.