Note: For the latest developments on the new FASB revenue recognition standard, please visit the CFOdirect revenue recognition page.
The FASB and IASB issued their long-awaited converged standard on revenue recognition on May 28, 2014. There are potentially significant changes coming for certain industries, including Aeropsace and Defense, and some level of change for almost all entities.
Some of the areas that could create the most significant challenges for entities as they transition to the new standard include identification of performance obligations, transfer of control, time value of money, and contract costs. Additionally, the potential impacts go beyond revenue recognition, such as required enhancements to information technology systems, potential tax implications, as well as a likely impact on certain operational areas (e.g., those negotiating and drafting contractual agreements).
Join us for an expanded discussion on the specific impacts the new revenue recognition standard will have on the Aerospace & Defense industry.
Chief Financial Officer, Chief Risk Officer, Finance Director, Manager, Staff, Risk Management Director, Manager, Staff
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