1/2/2014

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.

Full Story:
CFO.com

Related Summaries