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Revenue Recognition Changes

FASB (Financial Accounting Standard Board) recently updated the rules for revenue recognition. While the process is still in the works currently, my intermediate financial accounting professor has already mentioned what the changes will look like and how they will affect the way accountants record revenue.

Here is a more updated report issued by the FASB: http://www.fasb.org/project/revenue_recognition.shtml

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Posted on February 25, 2015 by Russell

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