Technical Accounting Research (ASC- 606/842)
Hi-tech company • $100M revenue
Challenge
A $100M hi-tech company was using manual processes for revenue recognition with significant compliance gaps around ASC 606 and ASC 842. This created audit risk, slow month-end closes, and lack of confidence in reported numbers.
What We Did
- Assessed current revenue recognition practices against ASC 606/842 requirements
- Designed and implemented automated revenue close processes
- Documented comprehensive revenue recognition policies
- Created detailed audit documentation and disclosure schedules
- Trained finance team on new processes and compliance requirements
Outcome / Impact
- Achieved full ASC 606/842 compliance
- Reduced month-end close time by 5 days
- Clear, audit-ready documentation
- Improved accuracy in revenue reporting
- Finance team equipped to maintain compliance
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