The standard provides a comprehensive, industry-neutral revenue recognition model intended to increase financial statement comparability across companies and industries and significantly reduce the complexity inherent in today’s revenue recognition guidance.
The new standard may significantly affect the current revenue recognition practices of many companies’ key performance measures which are based on sales, revenues and profitability.
Partner, PwC US
Partner, Financial Markets, PwC US
Tel: +1 (646) 742 7510
Asset & Wealth Management, Partner, PwC US
Partner - Assurance, Financial Markets, PwC US