Changes to Sales Commission Accounting Under ASC 606
The winds of change have been gathering in financial accounting since the FASB and the IASB issued a converged standard on revenue recognition in May 2014. ASC Topic 606 is the codification of several Accounting Standards Updates (ASUs), starting with ASU 2014-09, Revenue from Contracts with Customers. The major changes coming to accounting for sales compensation add to the already lengthy list of compelling reasons for companies to employ robust sales compensation management (SCM) software such as Iconixx Sales.
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