A new revenue recognition standard set for implementation in December, ASC 606, is set to shake up the asset management industry.
Many managers may be overlooking the burdens it will create for their operations and their ability to compare different funds. Managers will have to spend considerable time and effort adapting to the standard because of the different transition methods available for applying it, as well as the different timetables that stakeholders may use to adopt it. This reality will make it challenging for managers to compare financial information across different industry players.
Key points from EY’s new paper include:
- A five-step model for applying the principles in the standard
- The impacts on fund investment valuation
- Suggestions for asset managers moving forward
Submitting the contact form below gives you free, instant access to all whitepapers and reports on the CCI website:
About EY
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.
.
