Revenue Recognition

Revenue Recognition

Revenue Recognition in a Time of Change

Revenue recognition under GAAP is a complex area where even seemingly simple transactions are subjected to some very complex recognition rules. Recent changes in revenue recognition rules due to the convergence of GAAP and International Financial Reporting Standards (IFRS) may be leaving your company struggling to assess the changes’ true impact on revenue, and also to come to terms with the scope of your implementation needs and the degree to which you may need to modify your current revenue accounting processes.

At MFA, we are well versed in the historic changes to revenue recognition. Our team of specialists can help you interpret and determine how best to apply the converged revenue recognition standard in your unique business situation. Our specific expertise in this area allows us to:

  • Assess the current and potential effects of changing accounting standards on revenue recognition for your organization
  • Assist in the determination and documentation of revenue accounting policies, procedures and required internal controls
  • Assess pricing strategies for multiple element arrangements, including their potential effect on long-term revenue behavior
  • Provide proactive advice during the negotiation of complex contracts
  • Review revenue arrangements to ensure compliance while also maintaining a proper business perspective

RELATED TEAM MEMBERS

Michael Piessens Lead Partner – Technical Accounting Advisory (978) 569-2919
Michelle Kupka Audit Partner (978) 557-5342
Travis Drouin Lead Partner – Audit (978) 557-5335

DOWNLOAD WHITEPAPER

Rev Rec FAQs

Download the MFA whitepaper, New Revenue Recognition FAQs.

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