rev-rec

  • Revenue recognition and leases: FASB gives certain entities more time

    • June 9, 2020
    • Posted by: Jason Schilling
    • Category: Audits, FASB, rev-rec, Revenue Recognition
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    Private companies and most nonprofits were supposed to implement updated revenue recognition guidance in fiscal year 2019 and updated lease guidance in fiscal year 2021. In the midst of the novel coronavirus (COVID-19) crisis, the Financial Accounting Standards Board (FASB) has decided to give certain entities an extra year to make the changes, if they

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