Technical Accounting Advisory: ASC 606, GAAP & Audit Readiness

Technical accounting advisory helps a business apply accounting standards correctly to transactions that are more complex than day-to-day bookkeeping. Common areas include revenue recognition under ASC 606, GAAP accounting policies, accruals and deferrals, financial statement presentation, and audit readiness. Porter Accounting LLC provides the analysis and then helps implement it in your close so your reporting stays consistent.

Porter Accounting LLC provides ASC 606 revenue recognition, GAAP financial statement preparation, audit preparation and support, controller services, fractional CFO services, cash-flow forecasting and budgeting, ERP implementation and accounting system setup, and financial process improvement. Monthly bookkeeping, payroll support, and catch-up or clean-up bookkeeping are also available as the foundation for advisory work.

Typical triggers include signing multi-year, subscription, or bundled customer contracts, preparing for a first audit, raising capital, taking on lender covenants, implementing a new ERP, or moving from cash-basis to accrual reporting. Porter Accounting LLC works with SaaS, manufacturing, construction, consumer packaged goods, retail, and franchise businesses facing these points of growth.

Technical accounting answers how transactions should be recorded and reported under GAAP. Fractional CFO support uses those reported results for forecasting, budgeting, KPI tracking, and financial strategy. Many growing companies need both, and Porter Accounting LLC offers both, so revenue and reporting decisions line up with the plans leadership presents to investors and lenders.

ASC 606 is the GAAP standard for recognizing revenue from contracts with customers. It follows five steps: identify the contract, identify performance obligations, determine the transaction price, allocate that price to the obligations, and recognize revenue as each obligation is satisfied. Porter Accounting LLC helps apply these steps to real contracts and maintains deferred revenue schedules, which is especially relevant for SaaS, subscription, construction, and multi-element arrangements.

Yes. Porter Accounting LLC provides audit readiness and preparation: reconciling accounts, documenting accruals and revenue schedules, preparing items on your auditor’s PBC list, reviewing internal controls, and responding to auditor requests. Porter does not perform independent audits; the team works alongside your external auditor or CPA so fieldwork runs more smoothly. Scope depends on the condition of your records and audit requirements.

Yes. Porter Accounting LLC provides virtual services across the United States. In-person services are available by appointment in supported areas, including Santa Rosa, San Francisco, San Jose, and Windsor, California, as stated in the service information. Virtual delivery allows businesses to access accounting, reporting, controller, and financial advisory support without relying on a large local accounting firm.

Pricing depends on the service and its scope. Service information lists monthly accounting plans starting at $850 per month, controller services starting at $100 per hour, and fractional CFO services starting at $150 per hour. Final pricing may vary based on transaction volume, number of accounts, payroll complexity, cleanup needs, business complexity, and the requirements of the project.

Yes. When a contract type or transaction needs a judgment call under GAAP, Porter Accounting LLC can help document the analysis and the resulting policy so it is applied consistently and can be shared with your auditor, lenders, or board. The policy is then reflected in your close checklist and reporting.

Yes. Porter Accounting LLC supports ERP implementation and accounting system setup for QuickBooks, Xero, NetSuite, and Acumatica, including chart-of-accounts design and workflows. Revenue and deferred revenue tracking can be structured so ASC 606 results flow into monthly financial statements rather than living in a separate spreadsheet.

Both are possible. ASC 606 assessments, ERP projects, and one-time audit preparation are usually scoped as projects with a custom quote. Ongoing support can continue through controller services, starting at $100 per hour, or the Advanced monthly plan, starting at $2,100 per month, which includes close oversight, accrual adjustments, and audit preparation.