Get ready for the new global accounting standard for revenue recognition. It’s expected in the first quarter of 2014—and could significantly change the way you do business. The standard takes a one-size-fits-all approach, so no matter your industry, you’ll follow a new five-step process to recognize revenue. It’s a big change with different processes, technology, and judgment calls needed, so prepare now.
Your stakeholders want to know about more than just your financials. Integrated reporting seeks to provide them with additional information about company strategy and risk, including environmental, social, and governance issues. But investors aren’t the only ones who benefit; those organizations that adopt integrated reporting realize benefits throughout the business because they’re thinking and acting as one, instead of in functional silos.