Insights into Manufacturing Trends from QAD

Carter Lloyd

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As you may know, there are new revenue recognition rules lurking just around the corner, and if you're a manufacturer, there's a chance that you will feel the impact of the changes. Revenue Recognition Rules Are Changing: What Should You Do? With an effective date rapidly approaching preparations should be made now. The impact of the new standard is likely to be different for each company, and will depend on the industry in which they operate. The rules are open to interpretation and industry specific interpretation of rules are still under discussion. Talk with your auditors for guidance on how these rules apply to your company and work to develop a plan to address the new rules. Companies need to consider how the new revenue recognition will affect other departments than the Finance department, including possible changes to the way that goods and services are sold,... (more)