Video Series: Revenue Recognition for Manufacturers—Myth #2
After speaking with several manufacturers that are analyzing their operations against the new revenue recognition standard, we realized there are a few common misconceptions. To help navigate the new standard, we’ve dispelled the top four rev rec myths for manufacturers.
This video is part two of our four-part series dispelling the top revenue recognition myths for manufacturers.
Myth #2: It only impacts financial reporting.
Implementing the new revenue recognition standard may have business impacts beyond the accounting department. Consider that treasury, sales, legal and even HR departments could be involved with necessary adjustments.
Watch to learn more about downstream impacts that require more internal updating than just your accounting processes.
Myth #1: It doesn't apply to you.
If you haven't started your evaluation or transition to the new standard, then this video is for you.
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