Software support to assist in the new FASB rules being implemented shortly. Having a section in Spectrum where a company can document all their leases in one module for quick reference would be helpful. Software update to comply with the new FASB revenue recognition rules would assist companies to be compliant.
STEPHEN CURCIO
| Company | COMANCO Environmental Corporation |
| Job Title / Role | Controller |
| I need it... | 12 months |
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Hello!
As for revenue recognition, Spectrum is already compliant with the new FASB rules. The strategy is to use sub-jobs to represent the different performance obligations. The Contract Status Report will then calculate earned revenue using the master job's rules or the sub-job ones.
Thanks for the request on lease accounting.