BTerrell Group Blog

In a recent video interview , Forrester’s Craig Le Clair, VP and Principal Analyst for Robotic Process Automation (RPA), noted that the majority of investment he sees going into robotic process automation is in the area of shared operations like finance and accounting.

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The confusing complexities that just may come back to bite you

In our continuing series covering the major and minor points of the new Revenue Recognition rules contained within ASC 606, we wanted to shed some light on some of the nuances laced through the rules’ verbiage. While on the surface the rules sound fairly straightforward, there are some confusing complexities that it’s important for your organization to be aware of and to understand. Here we look at just one component of the rule – identifying the performance obligations of a contract - to illustrate how a seemingly simple concept gets a bit more complicated the deeper we look.

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Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers, is provoking a lot of questions—and for good reason. The update essentially affects all businesses and requires some major updates to reporting and accounting practices. Read on to see if it applies to you, what you need to do, and when you need to make the necessary changes.

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Back in 2014, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) released new guidance on recognizing revenues in contracts with customers. Revenue recognition is essential for strong financial management and yet can be challenging for certain types of businesses, such as those managing recurring and deferred revenue.

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Artificial Intelligence (AI) is expected to increase organization’s revenue at a fast pace. The revenue of companies working in the AI space is expected to touch the revenue of $3.06 billion by 2024, according to a report by Avendus Capital.

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