100 Thoughts on Pricing (and Finance): #45
ASC606 revenue accounting is probably the worst accounting standards release in my lifetime. Complaining about it doesn't help anything, so how can you make the best of the situation and maybe even improve your operations?
Improve your unbilled/deferred reconciliations
Improve your monthly A/P process (delayed/inaccurate receipt of 3rd party costs becomes delayed/inaccurate revenue)
Improve your forecasting and tracking of reimbursable expenses and tell your clients how it benefits them.
Tell investors to stop asking dumb questions about "pass-through revenue" (I always enjoy this part of earnings calls).