On June 15, 2017, Insight and Deloitte hosted a Revenue Recognition webinar addressing key issues that technology companies face when adopting the FASB’s new revenue recognition accounting standard (ASC 606, Revenue from Contracts with Customers).
Software and technology company revenue streams are potentially among the most significantly impacted by the new accounting standard. The webinar informed senior executives of Insight’s portfolio companies regarding:
- The key revenue streams that are subject to change under the new accounting rules,
- The areas of greatest complexity and judgment of such change,
- Other implications of the new accounting rules, such as accounting for contract costs (e.g., sales commissions) and required financial statement disclosures.
Presentations were made by representatives of Deloitte.
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