Deciphering the new revenue recognition standard
Part of the User Friendly podcast series
The latest accounting standards are changing the way technology, media, and telecom companies recognize revenue—more than a change in rules, the new standard demands a change in mindset. In addition to impacting finance departments, the new accounting standard also means big changes for strategy, information technology, human resources, sales and marketing, and tax.
How will the changes affect your business?
In this episode Joe Talley and Bryan Anderson explore the cross-organizational impact of the new revenue standards, how companies are developing their commission plans, internal and external operational impacts of the standards, managing costs and disclosures, and key points of focus for companies preparing to comply.
I see a trend in revenue arrangements. Companies believe that if they bundle more products and services together, they can increase the total value of not only the transaction but also the cash flow and earnings they can receive from the business model. Changes are all happening at one time, so trying to get people to understand not only a new model but how the model would be applied to new revenue arrangements can be a challenge.
Listen in to find out how the changes will affect your organization.
Want more? Check out our Flashpoint on revenue recognition.
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