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Get private companies ready for the new revenue standard

by Joseph Radigan | Jul 09, 2019   ()

Auditors of private companies are reviewing clients’ efforts to prepare for filing financial statements under the new revenue recognition standard in early 2020. In the five years since FASB adopted its landmark guidance in Accounting Standards Update No. 2014-09, Revenue From Contracts With Customers (Topic 606), companies large and small have had to race to implement the standard by its effective date.
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Source: Journal of Accountancy

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