Recognizing the Impact of the New Revenue Recognition Rules
Blog: APQC Blog
The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have issued their long-awaited converged standards on revenue recognition. The rules govern how and when revenue can be recognized in different industries. In essence, the new rule will do away with current industry-specific accounting practices and instead apply a single set of principles to all revenue transactions.
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