Revenue recognition by industry
Understanding the challenges and impacts to your business
In January 2018, the new revenue recognition standard (Update No. 2014-09; ASC 606) takes effect. The standard has broad implications and may affect many parts of your organization: financial statements, business processes, taxes, and internal controls over financial reporting. It requires the collaborative efforts of multiple departments within the company, including financial reporting, IT, sales, tax, investor relations, human resources, and others.
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