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Is your company ready for the new revenue recognition exam?

Posted by Graham Hulme on Feb 1, 2018 8:00:00 AM

ARE YOU READY FOR THE EXAM? 

Have you hit the snooze button one too many times on your revenue recognition alarm? It’s every student’s (or accountant’s) nightmare: before you know it, the term has ended, and one of the most important tests of the year (ASC 606 and IFRS 15: Revenue from Contracts with Customers), is here.  Your teacher will soon hand you the revenue recognition standard exam – but are you ready?

There is an abundance of literature on the upcoming revenue standard, ASC 606 and IFRS 15: Revenue from Contracts with Customers, that deals with the ‘who’, ‘what’, ‘when’, ‘where’, ‘why’, and, maybe not so much, the ‘how’, of compliance. Therefore, this blog will ultimately focus on the ‘how’ of complying with the new revenue recognition standard.

Below, we compiled some tips and tricks that will allow you to pass your revenue recognition exam, regardless of which phase your company currently is in.

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The Pros of a Complex Billing and Revenue Management System

Posted by Martin Sachs on Oct 24, 2013 3:29:00 PM

Conventional spreadsheet applications like Microsoft Excel are fine for small businesses with simple billing procedures and uncomplicated revenue streams. Spreadsheets may be time-consuming to manage, but they'll carry out the required calculations and provide you with straightforward data.

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