Big Accounting Deal

21. June 2017.

CFOs have a new 800-pound gorilla sitting in the corner. Actually, the really lucky ones who oversee operations in Europe and the U.S. will have two. ASC 606 and IFRS 15 are new accounting rules that describe in great detail how subscription vendors should recognize revenue beginning in December 2018, and we should all care about them. Since the dawn of the subscription economy, companies like Salesforce, Zuora, and loads of others have preached the advantages of buying things as services rather than as traditional goods.

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