New disclosures, new judgments, new frameworks to make judgments; all are coming soon as FASB’s new revenue recognition standard hurtles into reality by 2017. Accounting departments looking to start implementation soon—which is anyone planning retrospective reporting of financials—have some big, crucial decisions to make about IT systems, vendors, and business strategy overall. Our rundown of what’s to come in the next six months is inside.
Source: Accounting and Auditing