Ready or Not: New Revenue Recognition Rules Are Coming

摘要

If you are the owner, CFO, or director of bookkeeping for a groundwater contracting firm, you need to be aware of the new revenue recognition rules intended to create improved consistency, contract comparability, and simplified statement preparation. The new rules, issued by the group overseeing how accounting in practices (generally accepted accounting practices) in the United States align with international financial reporting standards, will require changes in many business practices.