Revenue recognition implementation causes modest concern for CPAs

06/5/2013 | CGMA Magazine

CPA executives expressed modest concern about implementing the new, converged revenue recognition standard in the AICPA's Business and Industry Economic Outlook Survey. Among those who will be affected by the standard and expressed an opinion, 36% said it will be neither difficult nor easy to assimilate the new standard into their accounting and business processes and systems, and 36% said it will be at least somewhat difficult to assimilate. FASB and the International Accounting Standards Board are scheduled to release the standard within a few months.

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