The new ASC 606 standard replaces most existing revenue recognition guidance within the U.S. generally accepted accounting principles and applies broadly across industries. One of the new standard’s goals is to remove the industry-specific prescriptive revenue recognition guidance that currently exists and replace it with a principles-based standard that can be applied consistently, regardless of industry.
Gain insights about:
ASC 606 Recap
Rule Changes Overview
Sales Expenses That Are Affected
Example: Two Significant (but limited exceptions) of the New Requirements
Complying with ASC 606, Subtopic 340-40
Benefits of Sales Compensation Management Solutions for ASC 606
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