ASC 606 replaces most existing revenue recognition guidance and brings unprecedented challenges for private companies in 2019. This authoritative guide will help preparers and auditors unravel the complexities of the new standard and avoid areas of concern.
ASC 606, Revenue from Contracts with Customers, replaces almost all previously existing revenue recognition guidance, including industry-specific guidance. That means unprecedented changes, affecting virtually all industries and all size organizations.
This authoritative guide will help preparers and auditors unravel the complexities of the new standard and avoid areas of concern.
For preparers, this guide provides the comprehensive, reliable accounting implementation guidance you need to unravel the complexities of this new standard.
For practitioners, it provides in-depth coverage of audit considerations, including controls, fraud, risk assessment, and planning and execution of the audit. Recent audit challenges are spotlighted to allow for advance planning in avoiding these new areas of concern.
This guide includes 16 industry-specific chapters for the following industries:
FASB ASU No. 2018-18
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