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ASC 606 (ASU 2014-09, Revenue from Contracts with Customers) presents major changes to the manner in which companies account for revenue. Most organizations will have to re-evaluate their revenue recognition process and disclosures for the finance statements as a result of this ASU. These new standards are mandatory, so make sure your organization is prepared for these upcoming changes!
In this webinar we'll discuss:
- An overview of the new standard
- A summary of the five elements of the revenue recognition analysis that all companies will apply
- Effective dates and transition options
- The need for an implementation plan