We all know that the new revenue recognition standard’s rules are in effect for the public companies. So how do the Tensoft revenue recognition solution fits into this new model? Tensoft Revenue Lens, is equipped to handle the variable consideration and contract modifications through the ability to update transaction price of the contract when estimates […]
Join Us for ‘ASC 606: Understanding Contract Modifications and Variable Consideration’ Webcast
Tensoft’s Business systems consultant and revenue recognition expert Jason Ochipa recently joined us to provide some insights on how Tensoft Revenue Lens addresses some of the changes with the new ASC 606 guidance. As you know, a lot of that guidance is reflected to be more of a principles-based approach to accounting, which allows for […]
Revenue Recognition for Services and Contracts
Missed Tensoft’s complimentary webcast on “Revenue Recognition for Services and Contracts”? Here’s an excerpt from that, followed by a recording of the entire event: “So what we will be looking at today is the various types of services and contracts that technology companies run into, so time and materials type of contracts, work on the […]
Does the FASB’s Delay on ASC 606 Spell Relief?
As I am sure many of you are well aware, FASB recently proposed a one year deferral for the new revenue recognition standard, ASC 606. Even though these changes are now a little further away and many companies seem to breathing a sigh of relief, it would be a mistake to procrastinate. The results of […]