Today’s Ask the accountant questions are:
How do I get started on adopting the new revenue recognition standard?
What can I do to make implementation easier?
What are my accounting risks with the new standard?
Question 1: How do I get started on adopting the new revenue recognition standard?
Most public companies should be applying ASC Topic 606 in 2018. All other entities will be adopting for 2019.
The revenue recognition standard is a cumbersome accounting change because it requires an…
