The IRS released guidance allowing automatic accounting method changes for taxpayers to follow the final revenue recognition regulations.
In 2014, the Financial Accounting Standards Board (FASB) issued new guidance, ASU 2014-09, Revenue from Contracts with Customers.
Everything has changed with FASB’s new revenue recognition standards and it’s time for all remaining organizations to implement the new revenue recognition standards that originated in May 2014.
Not-for-profits are finally able to make sense of the confusion over the Financial Accounting Standards Board’s (FASB) new revenue recognition, Topic 606, thanks to a new standard issued June 21.
As the implementation deadline of the new revenue recognition standards (ASU 2014-09) approaches, there are many companies and organizations scrambling to grasp the impact that [...]