Insights: revenue recognition

Baker Tilly discusses the implementation issues healthcare providers face under the new ASC 606 revenue recognition standard.

Understand the new revenue recognition standard (ASC 606), the impacts on your processes and what to do to implement across your organization through our webinars, articles, ebook and more.

Businesses that meet the definition of a public business entity because their financial statements have to include, or be included, with the financial statements or financial information of other public companies can have more time to adopt the FASB's revenue recognition and lease accounting standards. The organizations can adopt the new standards at the same time as private companies, the FASB said in an update to U.S. GAAP.

Baker Tilly completed Phase 1 of the revenue recognition assessment for an enterprise software company, provides project-based software in the government contracting and services industries.

New revenue recognition standards will have specific considerations for software and technology companies.