Revenue, or the “top line,” is one of the most closely-monitored measures of an entity's growth and market share.
The FASB and IASB are currently in the process of replacing the labyrinth of existing revenue guidance with a new global accounting standard that will apply to all revenue transactions, regardless of industry.
Understanding the effect of this change on your business will help you inform your key stakeholders, prepare internally, and limit surprises down the road.
This 10Minutes provides a preview of the proposed changes and their implications.
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