The Financial Accounting Standards Board issued Accounting Standards Codification 606 (“ASC 606”), which became effective for privately held calendar year-end companies effective January 1, 2019. The new standard provides a principles-based approach for revenue recognition and the impact for some companies could be significant. The audit team at HCVT has written a series of whitepapers to help you navigate through the complexities of the five steps of the new standard, which can be accessed through the links below. HCVT is also providing consulting services to assist companies in implementing the new standard.
For further info on ASC 606 or to receive information on HCVT’s revenue recognition consulting services, please contact Michael Cole at michael.cole@hcvt.com or Sam Bachstein at sam.bachstein@hcvt.com
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