Revenue Recognition Implementation Brings Big Challenges

By Tammy Whitehouse2015-05-19T08:45:00

Companies in the vanguard of implementing the new revenue recognition standard are finding it a daunting task requiring major planning and coordination. At the Compliance Week 2015 conference, Bavan Holloway, vice president of corporate audit at Boeing, said companies need to have a strong change management process in place. “It’s ...

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Article
Taxing Times Ahead on Revenue Standard

2015-08-11T11:00:00Z By Tammy Whitehouse

Among the many issues companies must address as they adopt the new revenue recognition standard, tax consequences are gaining more attention. The IRS is seeking comment on how burdensome tax reporting might become, and the standard’s fundamental shift in recognizing revenue could make the burden quite heavy. “There’s a lot ...
Article
Extra Year on Revenue Standard Means More Time to Sweat

2015-07-21T12:00:00Z By Tammy Whitehouse

Image: Don’t let your accounting department get too excited with that additional year FASB has granted to adopt the new standard for revenue recognition. Experts helping companies’ implementation efforts say that extra time is much needed, with plenty of questions about the standard remaining unanswered. And don’t forget, “half of ...
Article
Financial Compliance Teams Await Tech Help on Revenue Rule

2015-06-16T11:00:00Z By Tammy Whitehouse

Improved technology for financial systems will be critical as Corporate America moves to implement the impending new revenue recognition standard. That new tech, however, is slow-rolling its way to your data center, since the standard’s final guidance is still incomplete. “We knew going in we were not playing on a ...

“For tracking litigation, enforcement, and regulatory developments, Compliance Weekshould be your prime source.”

Revenue Recognition Implementation Brings Big Challenges

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Taxing Times Ahead on Revenue Standard

Extra Year on Revenue Standard Means More Time to Sweat

Financial Compliance Teams Await Tech Help on Revenue Rule

“For tracking litigation, enforcement, and regulatory developments, Compliance Week
should be your prime source.”