Revenue Recognition Most significant update in 2018 Eligible for testing as

Revenue recognition most significant update in 2018

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Revenue Recognition Most significant update in 2018 Eligible for testing as early as January 1, 2018 Update is a response to changes in our economy: FASB changing the guidelines by which a company recognizes its revenue Shift from mainly producing tangible goods and providing services under simple arrangements to providing more intangible goods and providing services under complex arrangements Streamlines the process of determining when revenue should be recognized, and brings US GAAP into closer alignment with international accounting standards Eliminates most industry-specific factors, making comparisons between companies in different industries more meaningful
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  • JianxinGong
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