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Revenue recognition automation
Five steps to sustainable ASC 606 compliance
The public has now seen the first wave of annual reports reflecting revenue recognition accounting rules under ASC 606 from the Financial Accounting Standards Board (FASB).
Five steps to establish an efficient process
After several years of preparations for implementation, some companies have discovered ambiguities in their approach and limitations in their financial systems’ ability to process information required for the new standard.
Now it’s time to get past spreadsheets and other manual workarounds. In this point of view, we offer five steps to help establish an efficient process that stands up to scrutiny over time as part of a company’s normal operations.
Explore the five steps of ASC 606
The services described herein are illustrative in nature and are intended to demonstrate our experience and capabilities in these areas; however, due to independence restrictions that may apply to audit clients (including affiliates) of Deloitte & Touche LLP, we may be unable to provide certain services based on individual facts and circumstances.