All industries will be impacted in some way by ASC 606. However, some industries will be impacted more significantly than others. Technology and life science industries are expected to be one of the most impacted. We will discuss ASC 606’s impact on healthcare, pharmaceuticals, biotechnology, software, and software as a service (SaaS). Along the way, we will touch on the collectability threshold, licensing of intellectual property, distinguishing between functional IP and symbolic IP and what that means for revenue recognition, the elimination of vendor-specific-objective-evidence (VSOE), and the introduction of variable consideration.