A consulting and technology services government contractor needed to assess and improve their revenue recognition processes in accordance with the new ASC 606 standard. BGS Consulting was retained to deliver an assessment of the impact of ASC 606 to the finance organization, enabling them to improve and update necessary processes. Our technical accountant performed detailed contract reviews, summarizing relevant components of the new standard that required attention to comply with the new rules.

This government contractor provides strategic planning, research, program management, data analytics, technology, cybersecurity and marketing services, particularly in the areas of government, energy, environment, transportation, social programs, public safety and security and financial markets.

“We didn’t know where to begin to adopt the new revenue recognition rules,” said a project manager. “BGS lifted a huge weight from our shoulders by identifying the areas of our business that will be affected, allowing us to adjust our processes accordingly.”

BGS is a professional services firm that specializes in providing flexible, tailor-made solutions to businesses of all sizes across multiple industries.