ASC 606 is coming – Are you prepared?

ASC 606, the new revenue recognition standard, is tracking to be finalized by the end of 2017 for implementation in 2018. The implications for recognizing revenue as it relates to nonrefundable entrance fees and monthly services can be significant, especially for Type A communities. Some important questions that must be considered are:

*what are the actuarial impacts?

*what software tools are available?

*how early do you update your board with the potential impacts?


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