‘The core principle of the new standard is that an entity shall recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.’
Maple Tree Consultants has extensive knowledge and experience extrapolating large amounts of ASC 605 data for analysis and presentation of necessary ASC 606 adjustments and disclosures. Our experience includes consideration of various revenue streams, drafting updated processes and procedures, writing accounting policies and transition memos, and preparing comparative financial data for executive consideration.
Maple Tree Consultants practical approach helps ensure an efficient, successful implementation for your company.
Maple Tree Consultants has extensive experience with revenue recognition guidance and advising companies on both the old and new standards. From a readiness and gap assessment, to the development and execution of a comprehensive implementation plan, we guide your company’s journey to effectively and seamlessly adopt the new revenue recognition standard.