It’s go time folks.  Private companies with a calendar year end must implement the new revenue recognition standard on January 1, 2019.  For some, this means controls, systems, and processes need to be in place by then in order to generate GAAP financial statements on a monthly basis.  Even if the amount of revenue recognized doesn’t change from the old guidance, there are significant new disclosures that will be necessary.  Technology companies are not immune to this and will need to take a careful look at their contracts.  Many technology contracts contain multiple performance obligations.  The amount and timing of revenue recognized related to performance obligations in these contracts could change.  So don’t delay; some upfront work now will save pain later.

https://www.journalofaccountancy.com/news/2018/nov/revenue-recognition-for-private-companies-201820015.html 

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