Year: 2022

ASC 606 software revenue recognition requirements have several challenges. These challenges include: Identifying separate performance obligations, Capitalizing costs incurred to obtain a contract, and Accounting for recurring revenue in a subscription billing model. This article will discuss some challenges a business may face when transitioning to this new standard. Invest in this software if you want to stay on the right side of the law and stay competitive.

Accounting for recurring revenue in a subscription billing model

The accounting for recurring revenue in a subscription billing system involves charging customers for software or services over time, amortizing the costs over many years. For example, in the past, software meant paying a hefty upfront fee and paying for upgrades every time you needed to make changes to it. With subscription billing, you pay for your software only when you need it, and you don’t need to worry about upgrades or upkeep. … Read more

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Batteries have their place among all manner of modern consumer products. From items such as smartphones, tablets, and laptops – that we can scarcely imagine life without – all the way up to emerging new products such as super long-lasting USB-C rechargeable batteries, such as those produced by Pale Blue Earth, or the massively powerful lithium-ion cells soon to be manufactured on an unprecedented scale by Tesla. 

However, the runaway success of all these commercial battery products perhaps masks another area where batteries have been just as revolutionary – the industrial sphere. The batteries in use in industrial settings are typically purchased by companies and specialists, and thus do not have such a flashy profile. Be in no doubt though the everyday operation of the construction site, the warehouse, and the factory has been revolutionized by super powerful lithium-ion batteries to just the same extent as the commercial products … Read more

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