Revenue Recognition Changes for Professional Service Companies
Posted by Julie Killian on October 11, 2019
Julie Killian
While many professional service companies have completed their analyses and made updates to track data in accordance with the new standard, some are still in the process and playing catch-up. For those that still need to implement the standard, consider these key areas that are likely to impact professional service companies.
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Do You have to Adopt the FASB Revenue and Lease Standards?
Posted by Julie Killian on June 11, 2019
Do you provide monthly or quarterly financial statements to your bank or other stakeholders? Are those financial statements required to be prepared using US GAAP standards?
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Revenue Recognition Changes are Here
Posted by Julie Killian on November 26, 2018
The complexity of the new standard can make implementation time consuming, and the time remaining for that implementation is short.
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Revenue Recognition: Five-Step Implementation
Posted by Julie Killian on March 5, 2018
When recognizing revenue over time, the objective is to do so in a pattern commensurate with the transfer of control to the customer.
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Employee Benefit Plan Implications of the Tax Cuts and Jobs Act
Posted by Julie Killian on February 28, 2018
While the business and individual provisions of the Tax Cuts and Jobs Act (TCJA) are currently the focus of attention for many, those responsible for …
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Revenue Recognition: Allocating Transaction Price
Posted by Julie Killian on December 19, 2017
Over the past several months Clayton & McKervey has provided information about the new revenue recognition standard released by the Financial Accounting Standards Board …
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Revenue Recognition: Determining Transaction Price
Posted by Julie Killian on November 20, 2017
Over the past several months Clayton & McKervey has provided information about the new revenue recognition standard released by the Financial Accounting Standards Board (FASB); …
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Revenue Recognition – Step 2
Posted by Julie Killian on September 8, 2017
Over the past several months, information has been provided about the new revenue recognition standard released by the Financial Accounting Standards Board (FASB). The …
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Revenue Recognition – Step 1
Posted by Julie Killian on July 11, 2017
Over the past several months we have provided information about the new revenue recognition standard released by the Financial Accounting Standards Board (FASB); (Revenue …
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Who Needs an Employee Benefit Plan Audit?
Posted by Julie Killian and Catherine Faysal on June 21, 2017
Many companies sponsor employee benefit plans for their employees. Management may not be aware that certain plans require an audit to be completed by …
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