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Revenue Recognition: SEC Updates Guidance & Issues New SAB

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Aug 18, 2017

On August 18, 2017, the Securities and Exchange Commission (SEC) issued two interpretative releases and the SEC staff released a Staff Accounting Bulletin to update interpretive guidance regarding revenue recognition, all related to FASB’s “ASC Topic 606 – Revenue from Contracts with Customers.”

One of the interpretive release addresses accounting for “bill and hold arrangements,” while the other release covers sales of vaccines to the federal government for certain stockpiling programs.

New SAB 116 is intended to bring existing guidance into conformity with ASC Topic 606.

Review the press release on the SEC's website.

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