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Companies gear up for Q4 dash to revenue rule ready date

Tammy Whitehouse | September 26, 2017

As the fourth quarter approaches, accounting change management teams at many public companies are expected to break into a sprint in order to complete adopting new revenue recognition rules taking effect on Jan. 1.

“It’s going to be a mad dash,” says Angela Evans, a partner at EY. “There’s still a lot of work to be done.”

After a slow start, companies seem to be making progress, says Eric Knachel, a senior consultation partner at Deloitte & Touche, but he still sees indicators that there’s plenty more to do. Based on a recent Deloitte analysis of a sample of the latest Fortune 1000 disclosures, Knachel believes there is still a sizable number of public companies that aren’t yet certain how they will be affected by the standard.

Deloitte studied a random sample of 10 percent of Fortune 1000 companies that have not... To get the full story, subscribe now.