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Understanding The New Rev Rec Standards – IFRS 15/ASC 606

Why should professional services organizations take note of the new accounting standards ASC 606 and IFRS 15?

The new accounting standards, which came into effect recently for public organizations, state key, generic revenue recognition principles that will apply across international territories and industries.

PS organizations may need to review their processes and ways of working to ensure, for instance, that the finance team has visibility of when these performance obligations have been met. Appropriate planning can help to avert delay and complication in this area.

This white paper looks in some detail at the new requirements and considers the implications for consulting organizations.

To see the webinar replay on this topic, click here.