While everyone is focusing on tax reform, a topic that should not be overlooked is the financial statement impact of the new revenue recognition standard ASC 606 Revenue from Contracts with Customers.

ASC 606 rules on revenue recognition provide an opportunity to transform your business for the better, writes FinancialForce CFO Gordy Brooks You no doubt have heard by now about ASC 606. Also known ...

Revenue recognition has always represented a challenge for the construction sector. This basic accounting principle defines the how and when a business addresses income it earns through contracted ...

Last month a very strange thing happened — Oracle announced its quarterly earnings, then re-announced them a day later, with a half a billion dollars missing from the top line. Wall Street had a ...

You can look at ASC 606 in one of two ways — as a compliance burden, or as an opportunity for finance leaders to emerge and change the game. Processing Content A survey by Big Four firm EY found that ...

Public companies have less than five months to get up to speed with a new way of reporting revenue. On Jan. 1, ASC Topic 606, Revenue from Contracts with Customers, takes effect for publicly traded ...

Intacct Contract and Revenue Management is a new module for Intacct's cloud ERP solution that fully addresses all the upcoming rules for revenue reallocation and expense amortization—using automation, ...

This past Monday, November 5, 2018, the Financial Accounting Standards Board (“FASB”) published much-sought after guidance regarding the recognition of franchise fees under Accounting Standard ...

On September 21, 2020, the Financial Accounting Standards Board (“FASB”) announced a proposed Accounting Standards Update (“ASU”), that if enacted, would provide a “practical expedient”, simplifying ...

SAN MATEO, Calif., May 10, 2017 (GLOBE NEWSWIRE) -- Zuora, Inc., the leading provider of subscription commerce, billing and finance solutions, today announced that it has signed a definitive agreement ...

FASB’s new revenue recognition standard, FASB ASC Topic 606, Revenue From Contracts With Customers, is one of the most significant changes ever in U.S. GAAP. The new, principles-based standard ...