The new revenue recognition standard deadline is upon us: Is your private company ready?

Public companies have worked diligently to implement the new FASB revenue recognition standard and many found the effort to be more complex and challenging than anticipated. Private companies were given an extra year to prepare. With the deadline rapidly approaching, that preparation time is almost gone. The new standards take effect in 2019 for all calendar year-end private companies. Whether the new standard has a significant impact on revenue recognition or is limited to disclosures,...