ASC 606 was introduced by regulators as new accounting standards designed to change the way organizations approach revenue recognition. The regulation aims to improve financial revenue reporting and the comparability of financial statements across the globe and across industries. At its core, ASC 606 states that companies must recognize revenue when goods or services are transferred to the customer, and that amount of revenue must be proportionate to the level of satisfaction of the contract’s performance obligations at the time the revenue is recognized. BILLINGPLATFORM SIMPLIFIES ASC 606 COMPLIANCE Automate Revenue Recognition According to ASC 606 While Enabling Product Innovation www.billingplatform.com | 1-888-348-8868 What Is ASC 606? The following five steps summarize

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