ASC 606 – Revenue Recognition in Microsoft Dynamics GP
ASC 606 is an updated accounting standard issued by FASB and IASB that is designed to ensure revenue recognition is consistent across industries, geographies, and capital markets. It applies to virtually all sectors where there are “contracts with customers” (exceptions include leases, insurance, and financial instruments). It is intended to increase financial statement comparability across companies and reduce the complexity in revenue recognition.
In this webinar, you will learn:
1) What ASC 606 is
2) The newly proposed Five Step Recognition Model
3) Areas of concern with the adoption of ASC 606
4) Solutions in Dynamics GP and AX to assist you in regulatory compliance
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