There’s a major challenge about to confront every public and private lab company that prepares its financial statements according to generally-accepted accounting principles (GAAP). It is the substantial change in revenue recognition standards and this change may cause a measurable downward adjustment in your lab company’s reported financial results.
This is the first webinar learning opportunity that explores the requirements of FASB ASC 606-Revenue Recognition Standard as it applies to clinical laboratory companies, diagnostic firms, and other types of molecular, genetic, and pharmacogenetics testing enterprises. The requirement becomes effective on a rolling timeline that starts in 2017. Many lab company executives and their accounting teams have yet to take necessary steps to comply with the new requirements of Rule 606. There are also a substantial number of lab executives whose private lab company follows GAAP in their financial reporting, but who remain unaware of the new requirements of Rule 606.
Don’t be one of the lab executives to make a costly mistake—failure to comply in a timely manner can have major consequences—order this indispensable webinar now!