Revenue Recognition Services

Connect World LLC supports organizations make the inevitable transition to implement the new revenue recognition standards and comply with the Accounting Standards Update on revenue from contracts with customers, issued by the Financial Accounting Standards Board (FASB).

Why should you worry about revenue recognition standards right now?

With private companies having an additional year to observe the transition of the public companies in the United States, the general tendency is to “wait and watch” – to observe how public companies manage the transition in 2018 before addressing their specific requirements.

This is indeed a risky approach, since planning for and executing the relevant changes within your organization will certainly be a time-consuming and intricate exercise.

Even if you are not expecting quite a metamorphosis, reviewing the current financial reporting, budgeting, documentation, and operational approaches is essential to assess the extent of changes required, the time you would require to implement them, and how these changes would affect your business.

The best time to get started is right now!

How can Connect World LLC help?

Our expert consultants can support you in

Performing comprehensive assessment of the requirements specific to your organization, including the functionalities that will be affected by this transition

Creating a map comparing the current status against the desired results to be achieved within a couple of years

Preparing a stage-wise road map of how the transition will occur

Determining the influence of the transition on the current metrics, contract terms, and budgeting

Implementing the roadmap

Setting up auditing and monitoring mechanisms to ensure compliance

Our Core Features

OUR TEAM OF EXPERTS

Our accounting and consulting network includes competent professionals with deep expertise in revenue recognition, financial planning and analysis, revenue reporting, documentation, compliance monitoring, and technology-based standardization approaches

EXPERIENCE

With over a decade’s experience in developing integrated capabilities across multiple domains of finance and accounting, our specialists deliver the best in terms of financial reporting, technical accounting, fair value analysis, project management, and GAAP and IFRS consulting.

FOCUS ON REVENUE RECOGNITION

Our team has expertise in studying client-specific revenue recognition requirements, foreseeing implementation challenges, and deriving customized solutions with a focus on the new standards.

END-TO-END AND CUSTOMIZED SUPPORT

We will help you overcome your revenue recognition transition woes by working on either a phased, integrated approach (from a comprehensive gap analysis to implementation and compliance monitoring) or a stage-specific ad-hoc approach.

Do give us a shout to explore further options in revenue recognition services