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Successfully Managing ASC606/IFRS 15 Compliance in Sales Compensation
April 3, 2019•eGuide
Learn how your organization can comply with ASC 606/IFRS 15 requirements.
FASB standard ASC 606, and its nearly identical international counterpart IFRS 15, changed the way companies need to calculate commissions for revenues on contracts that are fulfilled over time. ASC 606 has had a large impact on sales compensation, as it falls into the category of “incremental costs of obtaining a contract.
Fortunately, with the right compensation solution, you can track sales details down to the transaction line item level, simulate compensation plans and models, ensuring they meet business goals and compliance requirements, and produce the detailed reporting needed to support sales and sales operations, finance and compliance.