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Revenue Recognition Implementation

Updated: Jul 23, 2021

Our client manufactures and distributes equipment that is used to download content via a subscription model. The revenue recognition standards under ASC 606 presented a complex challenge, and our client’s CPA firm recommended Orion Solutions to help develop the internal approach.

Our Solution

Orion Solutions brought an executive level CPA to the project who worked closely with client leadership to understand the company’s revenue streams and contract set ups. Our consultant evaluated the impact of each contract type and established guidance for recognizing revenue.

Client Outcome

Our consultant developed internal guidance and associated process steps that worked well for our client and satisfied the external CPA firm review. That firm went on to recommend Orion Solutions to their other clients to assist with ASC 606.

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