Day: December 31, 2019

The Revenue Recognition Standard and Its Impact on Private Software Companies

GAAP accounting standards (US Generally Accepted Accounting Principles) underwent some big changes at the beginning of 2019 that impacted private companies. In particular, provisions for software companies were removed which led to big changes in how they recognize revenue. While the deadline for compliance is long past, this tricky standard impacts many levels of an organization and regular process checks are critical.

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