Will new accounting standards impact your business? Are you prepared?
Our experts are well-versed in these new, complex standards. DGC can help you understand the new GAAP requirements and assess the capabilities of your company to implement these standards.
Putting together a plan will be a complicated and time-consuming process, and our firm can help you every step of the way. After meeting with us, you will have an adoption and implementation plan that you feel confident about.
Lease Accounting Standard
The new lease standard will present significant changes to the balance sheets of lessees. It will require all leases greater than 12 months in length to be recorded on the balance sheet. Additionally, there are other implementation challenges that every company will need to consider. Read more
Revenue Recognition Standard
The new revenue recognition standard creates a new framework for how all businesses recognize revenue, regardless of industry. It also requires significant enhancements to the financial statement footnotes than were mandated under previous standards. Read more
The investigation commenced in 2017 and many media outlets are speculating that the investigation is largely focused on improper revenue recognition. Read more
The new effective date is now January 1, 2021 for calendar year-end private companies, small public companies, and not-for-profit organizations. Read more
Adopting the required disclosures is one area of the guidance that will be especially difficult for entities to accomplish without help from accounting professionals. The complexity of the process and time required to implement this new guidance varies. Read more