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Hartford Business Journal

Article by Ted Lucas, Assurance Services Senior Manager & Timothy Landry, Assurance Services Senior Manager, "Businesses Must Prep for New Revenue Recognition Rules" Featured in The Hartford Business Journal

Featured: Ted Lucas, Director, Assurance

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Excerpt:

Today's financial world puts a great emphasis on meeting targets. From the perspective of those who run businesses and their employees, it can mean the difference between a large bonus or being let go. From a stockholder's perspective, it could mean the difference between selling or holding a stake in a company.

The most common measure used to gauge whether one has met targets is revenue, which is why attaining proper revenue recognition is paramount for a business's success.

Revenue recognition in some instances can be simple. Consider a manufacturer that sells a non-warranty product to a customer. In this instance, revenue is recognized when all four of the traditional revenue recognition criteria are met: (1) the price can be determined, (2) collection is probable, (3) there is persuasive evidence of an arrangement, and (4) delivery has occurred.

Click here to read the full article on www.hartfordbusiness.com >>

 
Featured
Ted Lucas

Director
Assurance
Hartford, CT
Timothy Landry

Director
Assurance
Hartford, CT
 
 
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