Clients who are audited are required to conform to ASC 606 - will we be able to say that we are "compliant" with the new accounting rules with ASC 606 in the near future?
From the Partner:
"our GP Project Accounting customer list,m100% of them have fixed price projects with cost to cost revenue recognition. All of them are audited or reviewed, so they are all subject to ASC 606. That means that we won’t be able to migrate any of them to Progressus until we can run mass cost to cost revenue recognition.
Nearly all of them also have T&M project with When Performed revenue recognition (meaning that both unbilled revenue and costs are recognized on a periodic basis – daily, weekly, or monthly).
Rich Fowler
