Financial Advisory Blog

Armanino’s Financial Advisory blog is your source for thought leadership around cloud ERP and accounting solutions and integrations. Supported by the Cloud Accounting Institute and numerous experts in cloud, finance, reporting, integration, compliance, and technology, Armanino’s Financial Advisory blog features must-read content on what’s happening in the finance industry, case studies, white papers, and much more.

September 7, 2016

Cost of Ignoring New Revenue Recognition Standards

Posted by Armanino Financial Advisory Team

What’s Your Exposure to the New Revenue Recognition Standards? WE1647-feature

The new revenue recognition standards issued by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) represent the most significant accounting change for U.S. businesses since Sarbanes-Oxley. These standards eliminate the transaction and industry-specific revenue recognition guidance under current GAAP and replace it with a principle-based approach for determining revenue recognition.

Are You Prepared?

Join the Armanino team for a webinar on September 27, 2016 to learn how you and your team can get ready for the new revenue recognition standards, ASC 606 and IFRS 15.

The new revenue recognition standards impact so much more than just the finance and accounting team. Join us for the webinar, where Armanino audit and consulting experts will detail the consequences of delaying your preparation. Presenters Ricardo Martinez, and John Dunican will outline a straightforward way to ensure your Board, and executive and management team members understand how the new rules impact the way your business operates. On this webinar our expert presenters will help you:

  • Examine a prototype revenue recognition gap assessment between current and future states
  • Identify an organization’s holistic risks as they relate to the new regulations, from the departmental level such as legal, sales, internal controls and finance to the valuation of the entire company
  • Evaluate the preparedness of internal team members to handle the requirements and impacts of the new regulations
  • Gain tips for working with an auditor to ensure independence in a gap assessment and streamline audits moving forward with the new standards.

Want More Info? Let’s Talk

Armanino’s Revenue Recognition Gap Assessment Services address the disparity between where companies stand today on revenue recognition compared to where they need to be in order to be compliant with ASC 606 and IFRS 15.

To learn more about Armanino’s Revenue Recognition Gap Assessment Services, visit us here.

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