- Understand the nuances of internal controls over financial reporting (ICFR) for ASC 606 (revenue recognition), including transition methods discussed in this Financial Executives International (FEI) presentation.
- Baker Tilly's assurance professionals discuss ASC 606, revenue recognition, transition methods available to organizations and the effective dates for the new standard.
- In this recent webinar, Baker Tilly overviewed some of the main areas that will impact business operations under the new revenue recognition standard: disclosures and costs.
- Many insurance entities believed ASC 606 would not affect them BUT other transactions such as risk management services, claims administrations, property valuations/appraisals, financial planning, and commissions or bonuses will be affected.
- Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers, seeks to change the value of disclosures by requiring robust disclosure for the users of the financial statements.
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