Financial accounting standard setters continue to issue increasingly complex and far reaching accounting standards. One example is the recently issued standard Revenue Recognition on Contracts with Customers. Implementing new standards requires numerous critical management decisions, judgements, and changes to processes, systems and internal controls. Consequently, successful adoption of new standards requires careful planning, preparation and execution. Proper documentation of management’s decisions is paramount.
Puncel Consulting can help you get up to speed in understanding new requirements, train your team, as well as plan and guide you through your transition. Through our network of accounting and financial reporting experts, we can provide all the resources you may need to get ready and adopt the accounting standard effectively and efficiently.
