-Josh Paul, Director of Accounting, Google
The new revenue standards are arguably one of the biggest changes in accounting in the last quarter of a century. They are based on one overarching principle: Companies must recognize revenue when goods and services are transferred to the customer.
The standards are built around a simple five-step model:
More than just a headache for your finance department, the upcoming revenue standard changes have the potential to heavily impact sales, marketing, and pricing strategies – particularly for subscription-based companies.
Companies will need to take a hard look at how they are doing business today, how they plan to price and sell in the future, and what they need to do to meet the new revenue standards.
Here at Zuora, our Revenue Recognition solution will meet the ASC 606 and IFRS 15 standards. Your business deserves to focus on growth without fretting about compliance.
-Bloomberg
-CRM Buyer