Not trying to scare you or anything, but if you haven’t done one thing to address ASC 606 compliance yet, and you operate a contract-based business with multi-year contracts especially, you are pushing it.
Revenue is the key indicator of your company’s financial performance and health. That’s not news. What is news? The accounting rules you must follow to recognize and report on that revenue are about to change. ASC 606 creates a major shift in how your business handles its accounting — particularly if you have a subscription-based business that derives revenue from contracts with customers.
