In depth: Revenue standard is final – A comprehensive look at the new model (Automotive industry supplement)

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06/18/2014 by Assurance services
In depth: Revenue standard is final – A comprehensive look at the new model (Automotive industry supplement)

At a glance

The FASB and IASB have issued their long-awaited converged standard on revenue recognition -- how will you be affected? This industry-specific supplement to our In depth highlights some of the areas that could create the most significant challenges for automotive entities as they transition to the new standard.

On May 28, the FASB and IASB issued their long-awaited converged standard on revenue recognition. Almost all entities will be affected to some extent by the significant increase in required disclosures. But the changes extend beyond disclosures, and the effect on entities will vary depending on industry and current accounting practices.

This industry-specific supplement to our In depth highlights some of the areas that could create the most significant challenges for automotive entities as they transition to the new standard.

For a comprehensive analysis of the new standard, read In depth: Revenue standard is final – A comprehensive look at the new model

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