With the new revenue recognition standard from the Financial Accounting Standards Board (FASB), companies face significant challenges, including new requirements for data collection, disclosures, and other financial processes. But even though the new standard is daunting, it is a great opportunity for chief financial officers (CFOs) to increase the value of finance.
How will the new standard change business planning, reporting, and forecasting? What new risks will arise, and how will the company address them? What kinds of new technology will be required? These kinds of decisions can have far-reaching impact, and CFOs will take the lead.
In this paper, discover the top 10 considerations for CFOs to prepare their organization for the new standard, while making finance a better partner to the business.