As the subscription industry matures, so do the rules and regulations that govern subscription businesses. The U.S. Supreme Court has ruled that states can collect Internet sales taxes. The new revenue recognition regulation, ASC 606, requires that non-public companies must adopt the standard in 2019. Staying ahead of these changes is just smart. Do you know how to handle these changes and how they will impact your business?
In this on-demand member briefing, we look at the latest changes in subscription commerce revenue recognition and taxation. Learn what you need to do, today, to determine if these changes affect your business and the most important things you need focus on if they do. Learn about issues such as:
- Understanding changes in revenue recognition and taxation is not just for the CFO.
- Understanding how you earn revenue is a critical component in understanding your business metrics.
- Revenue also plays a critical role in most commission plans.
- Did you know that in most cases, if you don’t collect the right amount of taxes from your clients, you are still responsible for remitting the right amount of taxes on behalf of your clients?
For subscription businesses, these topics are especially challenging.
As a CFO to growing subscription revenue companies, Denice Sakakeeny of Denice Sakakeeny & Associates will walk us through the key changes to these principals and will reveal how these may impact you, even if you are not the CFO. She will also answer all your questions, including:
- How do you know if your company is subject to the changes in revenue recognition?
- How are software and other digital goods impacted?
- Why is taxation such a complex topic for subscription commerce companies?
- Why should sales, product, customer service and other teams care about this?
