Responding to Revenue Recognition Challenges in a Subscription-Based Economy
For most companies operating on a subscription business model, the impending Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) changes – known as ASC 606 – will represent a welcome validation of existing revenue recognition practices, as well an opportunity to confirm that those practices will continue to meet auditor approval. While the new accounting standard will create far less disruption for subscription-based businesses than various pundits and publications have recently claimed, the new standard will have an impact, as it requires that subscription companies scrutinize every activity through a new lens.
This webcast is intended for companies preparing financial statements in accordance with ASC 606 and IFRS 15. We hope that this presentation will enable you to navigate some of the more challenging aspects of the new revenue standard.
In this webcast, we will cover:
- A brief overview of the new revenue recognition standards
- Highlight potential implementation challenges for subscription businesses
- Implementation considerations and tips adopting the new rules