SUCCESSFUL BUSINESS MODELS usually have some level of complexity (even if not obvious to your customers). This complexity commonly stems from fulfilling a customer’s needs with a total solution, rather than just one product or one service.
THE PROBLEM: US GAAP does not do well where its concepts overlap with each other in a total solution.
THE RESULT: Company management is frequently left to interpret an interpretation that may or may not be agreed to by their auditors or regulators, causing undue cycles of discussion, inefficient efforts, and additional fees.
THE RESOLUTION: Management and their staff must feel empowered to make the so-called “significant judgment” that is all so necessary when black and white decisions need to be made within those shades of gray that cloud the available guidance.
We at RevRec.Net are about this RESOLUTION.