As FASB compliance deadlines fast approach, Massy Consulting will host an educational seminar on new ASC 606 guidelines for local finance executives.
RALEIGH, NC, UNITED STATES, June 28, 2018 /EINPresswire.com/ — Massey Consulting will host an “ASC 606 Survival Breakfast” on Thursday, July 26th at Wake Technical Community College, Western Wake Campus from 8-10:30 am.
The event is designed for CFOs, Controllers, VPs of Finance, Senior Accountants, and other finance professionals who are preparing for new FASB changes. Public companies have already adopted the new ASC 606 and IFRS 15 rules on January 1, 2018, but private companies will need to show compliance by January 1, 2019.
Businesses, specifically SaaS companies whose revenue comes from subscriptions and contracts that may be subject to changes over time, have new revenue recognition standards to consider when ASC 606 is in effect for them. If companies do not comply with ASC 606 regulations, they risk a long list of audit findings and a restatement of financials.
“We are urging private companies to comply with ASC 606 and IFRS 15 regulations before it becomes too late,” says Philip Massey, CPA and President of Massey Consulting.
First-hand experiences on preparing for ASC 606 compliance will be presented by a panel of guest speakers at the event. Speakers include Ellen Grantham, CFO from K4Connect and 2016 Class of CFO Award Winner for Large Private Companies, as well as Jim Stubanas, Certified Expert in managing ASC 606 solution implementations.
“The purpose of our ASC 606 Survival Breakfast is to deliver a clear picture of FASB’s requirements, its impact on your business, and the steps you need to take to successfully prepare for compliance” explains Massey.
For more information on Massey’s ASC 606 Survival Breakfast, click here.
About Massey Consulting
Massey Consulting, located in Raleigh, NC, is a full-service consulting firm that specializes in various implementations and integrations of accounting software. Massey Consulting often integrates front-end operations management systems with back-end financial software, like Sage Intacct or Dynamics GP, to create a seamless business management tool. The Massey team is comprised of technology consultants that have experience as accountants, controllers, and information systems experts. Recognized as a Microsoft Gold Partner and Sage Intacct Premier Partner since 2013, Massey Consulting serves over 100 clients across the United States, Canada, and Australia. To learn more, visit www.masseyconsulting.net