Finance teams face some game-time decisions. Any company transitioning to the FASB’s new revenue recognition standard is dealing with a shrinking timeline, uncertain impacts and a flurry of interpretations over what the changes mean. In this essential guide for GAAP followers, RoseRyan, rev rec coaches and finance experts Diana Gilbert and Pat Voll lay out a game plan and set up companies for a smooth implementation.
With fewer bright lines than legacy GAAP, the new rules involve adjustments-companies will be making more judgment calls and estimates. And they will need to find their way through new definitions, examples and concepts in how they think about revenue. By taking a strategic approach, companies can minimize negative impacts as well as uncertainty, realize benefits, and prepare investors and analysts for any potential changes coming down the pike. This guide shows them how
Download this report to find out:
- Why the transition is way more than an accounting exercise
- Who should be included in the process (spread the love beyond the finance team)
- How to figure out what will change, from your contracts to your revenue results and financial statements
- Examples of how the rules could affect pricing and contracts at tech and life sciences companies
- The high-level issues between adoption methodologies and why one makes more sense for some companies