Accounting & Tax

Making the Move to ASC 606: What to Know

The ASC 606 adoption date—the biggest accounting guidance change in recent history—is past due for public companies. However, according to a 2017 survey conducted by EY, 34% of US public company CFOs said they are behind schedule.

In fact, a whopping 71% said their revenue recognition programs are not complete. Meanwhile, private companies are finding themselves in the same position that public companies were in a year earlier: figuring out where and how to start the ASC 606 adoption process.

While their public counterparts learned through a series of trial-and-errors on picking the right adoption approach, private companies now have the luxury of learning from these many lessons. The key to doing so is action.

Download this white paper to learn more.