Revenue Recognition

10/09/15 Revenue Recognition is a very hot topic in business today. The need for contracts with case-specific enforceability provisions has taken on increased importance. Christopher E. Hartmann, Esq. spoke before The Presidents Forum on contract pitfalls. Identifying performance obligations, collectability provisions, implied warranties, indemnity rights and reciprocal rights to terminate are contract provisions that Hartmann believes should be well crafted in every contract. “One size does not fit all.”  Companies should regularly review their customer and vendor contracts; otherwise they risk being at a competitive disadvantage in the future.

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