How Private Companies can tackle Revenue Recognition Now

We can help you stay in compliance . . .As of January 1, 2019, private companies are required to comply with new revenue recognition rules designed to make accounting more transparent and uniform across industries. This change is part of a broader initiative to align global accounting rules and replace outdated proscriptive practices with a more principles-based approach. The new revenue rules can be found at FASB ASU 2014-09: https://www.fasb.org/…/Pa…/ImageBridgePage&cid=1176169257359. The objective of the new guidance is to establish principles to report useful information to users of financial statements about the nature, amount, timing, and uncertainty of revenue from contracts with customers.

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