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Quick Guide to Revenue Recognition (ASC 606 / IFRS 15): Planning Your Move to the New Rules

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The runway to adopting the new revenue recognition rules is foggy. Companies are faced with uncertainties and some stop-and-go moments. Many are waiting for a nudge for take-off, not quite sure how to proceed. The feeling of inertia is understandable. At 700 pages, the standard is huge and the effects it could have on a company could be just as big.

Finance teams are the stewards for adopting the new revenue recognition guidance, but you’ll need help. And you need it early. As you think about how you will transition to the new rule, accounting teams will have to shake off their years-learned behavior and nail down a strategy to get ahead of the process. What could change under the new rule? And how should you plan for your migration?

In this guide, you will learn:

  • How to scope, assess, and plan your move
  • How to evaluate the financial impact
  • What areas of your company could be affected
  • Breakdown of the differences, opportunities, and challenges
  • Key technology/financial system considerations
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