Flattening the Revenue Recognition Standard

Flattening the Revenue Recognition Standard
Author :
Publisher :
Total Pages : 28
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ISBN-10 : OCLC:1306542506
ISBN-13 :
Rating : 4/5 ( Downloads)

Book Synopsis Flattening the Revenue Recognition Standard by : Luis Benavides

Download or read book Flattening the Revenue Recognition Standard written by Luis Benavides and published by . This book was released on 2015 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: On May 28, 2014, after years of planning, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) issued joint revenue recognition standards, ASU 2014-09 (Topic 606) and IFRS 15. Through the project the boards sought to “flatten” the revenue recognition standard, alongside an overall improvement in cross-border financial reporting and analysis. This paper cross examines both current and future standards under U.S. GAAP, and discusses key areas of the new standard that will dramatically impact the financial reporting and operations sectors of organizations.


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