While everyone is focusing on tax reform, a topic that should not be overlooked is the financial statement impact of the new revenue recognition standard ASC 606 Revenue from Contracts with Customers.

Surprise! On April 8 th, FASB delayed for one year the implementation of the new ASC 606 revenue recognition standards for private companies,[1] citing the coronavirus pandemic. In addition to ...

Public companies have less than five months to get up to speed with a new way of reporting revenue. On Jan. 1, ASC Topic 606, Revenue from Contracts with Customers, takes effect for publicly traded ...