FREE Presentation Download: Understanding Revenue Recognition & Leases

Aug 1, 2019Business, Guides

Do you understand the impact of the new accounting standard on your business? Revenue recognition has been around since 2010, when the first draft of the new standard was released. Three exposure drafts and numerous accounting standards later, it will be required to recognize income under the five-step approach.


We hosted a free breakfast seminar event at the Golden Valley Country Club on July 30 and attendees learned…

1. GAINED A BETTER UNDERSTANDING.

The new revenue accounting standards requires a consistent, single model for recognizing revenue and disclosure requirements on financial statements. This new standard was effective January 1, 2019 for all industries.

2. HOW TO PLAN FOR CHANGES.

In 2020, nearly all leases will need to be disclosed on the balance sheet. This may have a major affect on business banking relationships and access to new capital.

3. RECEIVED GUIDANCE ON THE IMPACTS.

At this educational seminar, we provided attendees with awareness and advice on these key issues and how they may impact business decisions.

Don’t miss out on our upcoming events – click to see what’s next!

Blank

Your content goes here. Edit or remove this text inline or in the module Content settings. You can also style every aspect of this content in the module Design settings and even apply custom CSS to this text in the module Advanced settings.

Trending Posts

Subscribe to our Blog

Related Industry Posts

2023 Business Valuation Considerations

2023 Business Valuation Considerations

In normal times, getting an accurate valuation of a business or other asset can be challenging. There are multiple inputs that must be considered and a value derived based on various assumptions.

read more

Subscribe to our blog

SEND US A MESSAGE

We appreciate your interest in Smith Schafer and would love to hear from you. So please complete this form or feel free to email us directly at: [email protected]