Journal of Accountancy interviewed Assurance Partner Robert Mercado for an article about the challenges of compliance with new revenue recognition and lease accounting rules for private companies.
Journal of Accountancy
By Maria L. Murphy,
“When the pandemic hit in March 2020 and the FASB deferral occurred a few months later, many companies adopting the revenue standard were almost ready to go based on the original effective date,” said Robert Mercado, CPA, Construction Assurance Group leader at Marcum LLP. “At this point, many of our clients have been applying 606 for two years.”