Implementing the new revenue standard has been like a marathon for many entities. As the clock continues to tick and the effective date looms just around the corner, we invite you to join us for Part 1 of our 5-Part Series: Finishing strong in the ASC 606 marathon. In Part 1, we’ll examine the implementation process required to design processes, integrate systems and account for downstream impacts across the business. Even as businesses finish their technical accounting assessment process, many may have underestimated the potential pitfalls and overlooked best practices they need to consider during the implementation process.
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- Describe process to analyze the impact of the new standard
- Identify and classify each process impact point
- Identify modules to accelerate technical requirements
- Assess how the change provides an opportunity to create value
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