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ASC 606 Impact on Construction Company Revenue Recognition

Posted by Graham Hulme on Jun 8, 2021 3:47:45 PM

Should revenue be recognized at a point in time or over time following the new revenue recognition standard for construction companies?

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Challenges of Applying New Revenue Recognition Rules

Posted by Julia Saad on Jan 11, 2016 10:30:30 AM

Application of ASC 606 is a major issue for businesses impacted by the new revenue recognition rules. Most companies seem to be generally familiar with the new revenue recognition standard; however, there are specific areas within the rules are vague. Many are left with wondering how the new revenue recognition rules will impact their business.  This causes major challenges and risks for any business that doesn't take the time to fully understand how ASC 606 and IFRS 15 affects their operations. 

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The Most Popular Softrax Blog Posts from 2015

Posted by Julia Saad on Jan 6, 2016 9:43:57 AM

As 2015 comes to a close, were reflecting on all of the exciting revenue recognition standard and awesome tips that we published on the Softrax Blog this year. Did you catch these most popular blog posts on our Softrax Blog? We've compiled them below.

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The Reinvigorated Regulatory Agency, The SEC Takes Action on Improper Revenue Recognition

Posted by Julia Saad on Jan 4, 2016 9:54:25 AM

The new revenue recognition rules are daunting and many companies wonder how they will be impacted by ASC 606.  What really happens to companies if they don't comply with the new revenue recognition rules? Who enforces these rules? The reinvigorated regulatory agecny, the SEC takes action on improper revenue recognition accounting. Learn about the SEC's role with revenue recognition and how to avoid improper revenue accounting.

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