Insight Venture Partners is partnering with MorganFranklin Consulting to host a webinar to help companies prepare for the introduction of a significant new accounting standard, ASC 606.
ASC 606 applies to all contracts with customers (with select exceptions) and can change how revenue is recognized both in timing and amount. These changes in revenue recognition have the potential to impact a company in a variety of different areas beyond just financial reporting, including incentive plans, commissions, and debt agreements, among others.
ASC 606 becomes effective for all public companies (and those in the process of going public) on January 1, 2018 and for all privately-held companies on January 1, 2019. The implementation process can be long and difficult for many companies though, so it is important that management teams begin to understand the changes now and budget the appropriate amount of time and resources to address them proactively.
On the webinar, MorganFranklin will provide an overview of ASC 606 as well as best practices for addressing the required changes and implementation “lessons learned.”
Download the presentation slides here.