Revenue standard is final – A comprehensive look at the new model (Health care services industry supplement)

In depth May 21, 2015

Start adding items to your reading lists:
or
Save this item to:
This item has been saved to your reading list.

The FASB/IASB issued converged standard on revenue recognition. This industry-specific supplement to our In depth pub. highlights areas that could create significant challenges for health care services entities as they transition to new rev. stds.

Note: Since issuing the new revenue standard in May 2014, the FASB and IASB have proposed various amendments to the guidance. This In depth has not been updated to reflect all of the proposed changes. See In transition US2015-08, The new revenue standard — changes on the horizon, for a summary of the changes, their impact, and the areas where the FASB and IASB have taken different approaches.

Overview

The FASB and IASB issued their long-awaited converged standard on revenue recognition on May 28, 2014. 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 publication highlights some of the areas that could create the most significant challenges for U.S. GAAP reporters in the health care services industry 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.

Contact us

David Schmid
IFRS & US Standard Setting Leader, National Professional Services Group
Email

Follow us