revenue recognition in asset management

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

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