Is the following statement true or false? The new revenue recognition standard will have only a minimal effect on my accounting practices and policies. I hope that statement is true for your organization, but I think for many healthcare systems, the answer is false.

If you have already started your implementation process and have an accurate timeline for completion, I applaud your efforts. Unfortunately, I think many organizations are a little behind the curve. The good news is that everyone still has time to plan, prepare, and execute a transition to the new standard.

Why is the transition to the new standard so important and so full of stumbling blocks?

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