V
PROVIDE VISIBILITY FOR
ALL KEY STAKEHOLDERS.
As you evaluate your current accounting software, processes and policies, make
certain that all stakeholders have visibility into how their actions impact revenue
recognition under ASC 606. Some of these stakeholders include:
CFO and Controller, who must see the impact and potential risk of the new
rules based on current standards compared to ASC 606.
VP of Sales, whose current sales and delivery strategies may have an unforeseen
bearing on revenue.
Finance and Accounting, who must have a fi rm handle on cash receipts with
billing forecast reports that detail billed and unbilled revenue, and their associated
revenue treatment.
Executives and board members, who need to connect the dots to assess
whether the new revenue recognition standards will require the business to
adjust its operating model in any way.
ASC
606
