Lease Accounting Rev Rec Handout.pdf

5/30/2017

Are You Ready for the New Rev Rec
• A poll of Fortune 500 companies at February 15, 2017,
45% of those companies could describe the status of it’s
effect when disclosing under “Recently Issued Accounting
Pronouncements”?
– Have you at least identified all revenue streams
– Talk to your auditors once you’ve feel you have
identified all revenue streams

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HELPING YOU GET THERE

This Won’t Impact Me, So……….
• This won’t be just an accounting issue…….
– Even if the debits and credits don’t change much, the
disclosure requirements alone will be completely
different.
– That’s why Tara will cover this important area today.

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HELPING YOU GET THERE

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