Have you recently attended an accounting update or read an article about the new revenue recognition accounting standard (ASU 2014-09) which is impacting companies in 2018-2020 depending on fiscal year end and public company status? Hopefully, these items are triggering action steps if not already started. We can help with:
- Updating revenue process documentation
- Updating of revenue policies and selection of practical expedients
- Selection of transition method
- Drafting of financial statement disclosures
- Designing new controls
- Quantifying the impact to your revenues and net income
We are currently helping other clients navigate through this major change with our revenue and industry knowledge. We will remove this stress point from your task list and let you focus on your company’s strategic goals.
Please contact your Dean Dorton advisor to help you with your adoption of the new revenue standard (ASU 2014-09). Do not wait to the last minute and create stress and potential surprising results for your stakeholders.