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ASC 606: Are You Prepared?

Published By: AuditBoard
AuditBoard
Published:  Nov 26, 2018
Length:  12 pages

When the IASB and FASB issued a joint press release on May 28, 2014 1 announcing new revenue recognition standards for revenue from contracts with customers, the adoption deadline seemed a long way off. After pushback from companies across various industries, the implementation date was extended by one year, granting companies more time to update their policies and systems to adhere to the new standards.



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