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Month: June 2018

Understanding Variable Consideration Accounting and the Time Value of Money1

ASC 606 Variable Consideration Accounting and the Time Value of Money

With the new revenue recognition standards upon us and adoption for public entities right around the corner, we’re finding that two aspects are tripping our clients and prospects up more
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Question When Should Revenue Be Recognized

Question: When Should Revenue Be Recognized?

Answer: When it’s not collectible (maybe). Historically it was always somewhat of a simple process to determine what was the amount of your company’s revenue. It was the top line
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The 5 Steps of Internal Controls for Revenue Recognition Standards

The 5 Steps of Internal Controls for Revenue Recognition Standards

Update: This blog post was written before the ASC 606 and IFRS 15 guidance was required to be applied in December 2018. The company Golden Bear Golf Inc. is named
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Will You Take The Letter “Q” or “K” for $650 Million

Will You Take The Letter “Q” or “K” for $650 Million?

Over the past months, we reviewed public companies’ filings to understand how they planned, implemented, and adopted ASC 606. As the ASC 606 adoption date has come and gone, and
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Part Four Excel is Not Intended for Sharing

5 Reasons Why You Should Stop Using Excel in Revenue Recognition Part Four: Excel is Not Intended for Sharing

Beginning in January, we posted a blog outlining five important reasons why Excel spreadsheets were not to be trusted for implementation of the ASC 606 guidelines. Since then, we have
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