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ASC 606: The Actions You Should Take Now to Prepare (Part 2)

ASC 606: The Actions You Should Take Now to Prepare (Part 2)

At Wipfli/Brittenford, we’ve been talking about the transition to ASC 606/IFRS 15 pretty frequently—and with good reason. Considered to be the largest change to standards in the past generation, organizations are finding out that making the transition to the new standard is immensely complex, with tasks including contract reviews, accounting policy development, and documentation of the conversion process causing the most pain for companies.

Recently, we took a look at the challenges, opportunities, and best practices as they pertain to making the switch to the new standards, providing a list of resources for organizations here.

Today, we would like to share with you a new event designed to help organizations make the switch, building atop a previous webcast and sharing insight from leaders in the accounting community. Learn more about the webcast, New FASB Revenue Recognition Standards Actions You Should Take Now, Part 2 here, or read on to learn more.

Webcast: RevRec Actions You Need to Take Now (Part 2)

There are a lot of actions you need to take, and not a lot of time to make the move. This is why Wipfli announced a part two of their RevRec Actions to Take Now Series, looking to answer or clarify many questions asked in part one, and share with you new information on how far companies have to go.

Following their initial webinar on the actions companies need to take now in order to prepare for the upcoming ASC 606 standards, Wipfli will be presenting another important webcast on the topic on September 19, 2017. Part 2 of their Revenue Recognition series will share not only the actions, but the opportunities to make the transition efficiently and economically.

New FASB Revenue Recognition Standards Actions You Should Take Now, Part 2, will be led by Brian Dietz, Partner at Wipfli, and David Appel, Head of Software and SaaS Vertical, Sage Intacct, who will look at actions to take, answer questions, and introduce you to Sage Intacct. Among the topics to be covered:

  • Automating the dual reporting that is necessary to both stay compliant and understand the impact of the changes on your results
  • Tracing performance obligations even as your billing, packaging, and pricing models evolve
  • Addressing all the new rules for revenue reallocation and expense amortization with automation, not spreadsheet

This event is now over, contact us to learn more!


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