Technical Accounting Tips for Optimizing Disclosures and Reporting for ASC 606 and 842
This webinar includes a discussion of Top Ten Technical Accounting Tips for accelerating financial reporting disclosures, which have been gleaned from Bramasol's experience guiding our clients through real-world issues surrounding ASC 606 and ASC 842.compliance. We've also seen what doesn't work by helping companies overcome false starts and dead-ends.
Examples of the implementation situations covered includes:
- An oil and gas services company found over 100 additional leases in a subsidiary that the corporate office did not realize were still being paid and expensed because it was small amounts and lessors typically would not tell you and allow it to go month to month!
Lesson Learned: Know where your leases are!
- A large pharmaceutical company underestimated the data abstraction process and delayed the project by five months because not only did the leases have to be abstracted but also interpreted by outsid
e leasing accountants.
Lesson Learned: Better upfront planning can avoid cost overruns and time delays!