BEST PRACTICES FOR IMPLEMENTING ASC 606 REVENUE RECOGNITION
In Partnership With
Ask any auditor what the toughest issue is for controllers and CFOs these days, and chances are it will be adopting the new revenue recognition standard. Understanding the theory is one thing, but making it work in your books is another.
Join Ryan Dillard, CPA and Director at ARC Consulting, who will share insights into the challenges for controllers and CFOs in adopting FASB’s latest standard for revenue recognition, ASC 606, and how to implement it in Netsuite.He’ll provide an overview of the change, review the two adoption options, and share best practices for getting started and getting across the finish line.
Equally challenging for your team is modifying existing or implementing a new ERP instance to comply with the new standards. Also joining is Derek Lee, CPA, Senior NetSuite Consultant at Trajectory Inc., who will share best practices for how to implement ASC 606 in NetSuite.
Attend this session to learn:
The 5-step process for recognizing revenue under ASC 606 and the difference between the two adoption methods for ASC 606
Critical record keeping you need to start doing now to implement the new standard
How to properly configure your NetSuite accounting environment for proper revenue recognition and reporting simultaneously under both the old and new standard
How close management software eases the transition to ASC 606 for accounting teams and eliminates headaches for controllers and CFOs
