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Revenue recognition has been a hot topic since the introduction of ASC 606 in 2014 - an accounting standard that changed the criteria for recognizing revenue for all companies and introduced a nuance unique to government contractors. Many small companies struggle to understand and apply the concept of recognizing revenue when it is earned versus when cash is received. As part of GAAP compliance, our role is to ensure that revenue and costs are matched (the matching principle) and that the amount of and timing of revenue recognition is accurate. Join us for this enlightening topic and learn how the termination for convenience clause in government contracts complicates an already complex process. Learning Objectives 1. Discuss ASC 606 2. Describe the concept of alternate use 3. Recognize the termination for convenience clause 4. Explain performance obligation 5. Identify when delivery and acceptance occur...