CFOs gear up for adoption of revenue-recognition standard

12/30/2013 | CFO.com

Chief financial officers anticipate having to devote time and energy to comply with the converged revenue-recognition standards from the Financial Accounting Standards Board and the International Accounting Standards Board, according to a survey by CFO. While the standards may offer companies more flexibility in estimating and booking revenue, there may be challenges in their adoption, such as factoring in a product’s performance obligation under customer contracts, especially if a contract is modified after the product is shipped.

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