Adam Washecka Joins CrossCountry to Lead Revenue Recognition PracticeBy: CrossCountry Consulting
(McLean, VA) CrossCountry Consulting, a leading management consulting firm, recently announced that Adam Washecka has joined the company to lead its Revenue Recognition practice within the Financial and Accounting Advisory service line.
Mr. Washecka is an industry expert bringing 15 years of experience to complex accounting and financial reporting engagements, including extensive knowledge of both the new and existing revenue recognition guidance and practical experience with implementing the new standard.
“We are excited to welcome Adam to the CrossCountry team,” said Dave Kay, one of the founding partners at CrossCountry Consulting. “He is a great cultural fit for our company, and his deep financial and accounting knowledge and experience will serve our clients well, especially as it relates to addressing the new revenue recognition standard.”
Prior to joining CrossCountry Consulting, Mr. Washecka led the implementation project addressing the new revenue recognition rules while working in the Technical Accounting Group at Towers Watson. He has also worked as a Senior Manager in Ernst & Young’s Financial Accounting Advisory Services (FAAS) practice in New York and Washington DC, where he managed large, complex accounting and financial reporting engagements, which included projects related to the implementation of the pending new revenue recognition and lease accounting guidance. Additionally, he has advised clients on U.S. Generally Accepted Accounting Principles (GAAP), International Financial Reporting Systems (IFRS) and U.S. Securities & Exchange Commission (SEC) reporting matters concerning cross-border and other transactions while working for Ernst & Young’s Capital Markets group in London. Adam has also worked at the SEC in the Division of Corporation Finance.
The new revenue standard will create a single revenue recognition model for IFRS and U.S. GAAP that will be applied across many industries and capital markets. It will replace all existing U.S. GAAP revenue literature with implementation requiring significant effort and having wide-ranging impacts throughout an organization, including accounting, IT, financial planning, tax, legal, and sales, to name a few.