Revenue recognition as you know it is over. ASC 606 (Revenue from Contracts with Customers) replaces nearly all the previously existing revenue recognition guidance, including industry-specific guidance. As a result, unprecedented changes will affect virtually all industries and organizations of any size.
An authoritative guide that includes 16 industry-specific chapters is now available to help preparers and auditors unravel the complexities of the new standard and avoid areas of concern.. Find out more about the guide here, including how to order one.