Tensoft’s Business systems consultant and revenue recognition expert Jason Ochipa recently joined us to provide some insights on how Tensoft Revenue Lens addresses some of the changes with the new ASC 606 guidance.
As you know, a lot of that guidance is reflected to be more of a principles-based approach to accounting, which allows for users and accountants and management to apply management judgment and estimate to better reflect the cash flows that will be coming through the contract.
In the video below, Jason elaborates on some of the changes in Tensoft Revenue Lens that help users to modify or reflect the modification of a contract, both under the prospective and cumulative method, and the resulting compliance calculations around the fair values for those performance obligations.
If you are interested to learn more, please join us for our next CPE eligible webcast, “ASC 606: Understanding Contract Modifications and Variable Consideration” on Nov. 14 at 9 AM PST.
• Review ASC 606 Five Step Model and adoption methods
• Discuss how Tensoft Revenue Lens implements the Five Steps
• Illustration of contract modifications and variable consideration
You can register here: https://attendee.gotowebinar.com/register/1750086454875833357
To learn more about Tensoft Revenue Lens, click here.