Revenue Recognition – Step 1

Posted by Julie Killian on July 11, 2017

Julie Killian

Over the past several months we have provided information about the new revenue recognition standard released by the Financial Accounting Standards Board (FASB); (Revenue from Contracts with Customers: Topic 606). The standard replaces the current revenue guidance found in multiple places in the FASB codification, and provides a single comprehensive standard that will apply to nearly all industries and will significantly change how revenue is recognized. The standard provides a five step process for recognizing revenue, as follows: Identify the contract with the customer Identify the performance obligations in the contract Determine the transaction price for the contract …

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Tips for a Smooth Audit

Posted by Julie Killian on September 14, 2016

Whether preparing for a first-year audit or looking to simplify the existing audit process, there are proactive steps a company can take to have a smooth …

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Julie Killian

Director of Assurance

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