Managing Commissions Under the New Revenue Recognition Standard
The new Revenue Recognition Standard goes into effect at the end of this year for public companies and the end of next year for private companies. The vast majority of businesses are unprepared for commission expense accounting, more commonly known as the costs of obtaining a contract. Although this represents a small portion of the revenue recognition standard, it’s of enormous importance for businesses that pay commissions and need to be compliant.
In this guide, learn what your business needs to do to manage commissions under ASC 606 (IFRS 15), including:
- Preparing for Commission Accounting Changes
- Estimating Commission Amortization
- Supporting Audit Requirements
- Driving Compliance with the Right Solution