ASC 606 Revenue Recognition

Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers, affects a broad spectrum of organizations (also see ASU 2014-09), including construction, insurance, healthcare, manufacturing, not-for-profit, real estate and technology companies. Many organizations see the most impact in the manner in which they need to account for their revenue, not in the final revenue on their financial statement. Braj Aggarwal, CPA, P.C professionals can help your organization as you complete initial changes from ASC 606, and as you reevaluate your options for solutions.

Our ASC 606 Services

• Drafting or reviewing revenue recognition policies and procedures
• Interpretation of ASC 606 and application to your entity
• Contract review with proper accounting treatment assessed
• Implementation plan creation
• Implementation team leader
• Advisor to implementation team
• Readiness assessment
• Review or establishment of internal controls over contracts and revenue reporting
• Financial statement disclosure assessment, drafting, and review
• ASC 606 training