Read The Resource Group blog to learn about Microsoft Dynamics GP ERP software and Intacct cloud accounting software
The new ASC 606 and IFRS 15 revenue management guidelines will have a major impact on public companies in 2018 and private companies in 2019. The Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) will require companies to reallocate revenue each time a customer contract changes and defer expense recognition to align with the contract’s delivery.
As a result, contract add-ons and renewals must be integrated into a single contract and will trigger re-allocations across both past and future periods, causing continuous revisions to revenue allocations and expense alignment.
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If you want to track the profitability of each department, branch, project, or just about any other aspect of your organization, you've been out of luck...
by Holly Green, CEO of The Human Factor
They say that we live in the Information Age. That may be true, but many days it just feels like the Distracted Age.
From the time we get up in the morning until we lay our heads on the pillow at night, we’re bombarded with information from countless sources. Advertising, email, voice mail, texting, Twitter, Facebook, TV, radio, iPods, smart phones – the list goes on and on.
And yet, the problem isn’t so much the amount of information; it’s that it all seems urgent. This sense of urgency makes it hard to tell what we really need to attend to now, what can be delayed, and what can be ignored altogether. These constant interruptions make it increasingly difficult to focus on the task at hand.
Which, in turn, makes it harder to keep our thoughts positive and stay focused on winning.
That's why I keep a sign in my office that says, "Of what you do today, what will have an impact a year from now?"