Join Us for Our Next GovCon Webinar: Revenue Recognition

Join Government Contracting Services experts Perry Kessler and Ricky White for a FREE webinar as they share insights on how to evaluate your current financial reporting processes for compliance with the new standard.

DATE: September 13, 2017

TIME: 1:00 P.M. – 2:00 P.M. EDT

REGISTRATION LINK

Why you should attend:

The new revenue recognition standard eliminates the transaction and industry-specific revenue recognition guidance under current GAAP and replaces it with a principle-based approach for determining revenue recognition. Some of the issues expected to specifically affect government contracting firms are as follows:

  • Identifying the unit(s) of account – contracts vs. performance obligations
  • Variable consideration – accounting for award/incentive fees and claims
  • Satisfaction of a performance obligation over time – reassessing if percentage of completion is still effective
  • Contract modifications – changes to the current accounting practices

What you will learn:

You will come away with an understanding of the model set out under the new revenue recognition standard and challenges facing the government contracting industry as a result of its issuance. You will also gain insights on where to focus as you evaluate current financial reporting processes for compliance with the new standard.

About RyanSharkey Government Contracting Services

At RyanSharkey, our government contracting experts are uniquely qualified to help assure your success by guiding you through complex regulatory and compliance requirements. Our comprehensive tax, assurance and compliance consulting services offer seamless delivery with industry experts dedicated to helping you succeed.

Our consultants’ ultimate goal is to serve as a trusted advisor, offering comprehensive resources for all of your government contract consulting needs. Our dedication and breadth of experience enable us to provide the services you need to be successful.

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Material discussed in this article is meant to provide general information and should not be acted on without professional advice tailored to your firm’s individual needs.



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