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A roadmap to applying the new revenue recognition standard

Published on: Sep 28, 2016

This Roadmap provides a comprehensive overhaul of the previous version, Revenue From Contracts With Customers: A Roadmap to Applying the Guidance in ASU 2014-09. It summarizes:

  • Key provisions of the FASB’s new standard on revenue from contracts with customers, including the specific steps the standard outlines for recognizing revenue.
  • The standard’s disclosure requirements.
  • The standard’s effective date and transition.
  • Other provisions and impacts of the standard, including implementation guidance and tax implications.
  • Recent developments related to applying and implementing the standard, including:
    • Final and proposed amendments to the standard since its issuance.
    • Issues discussed by the FASB/IASB transition resource group for revenue recognition.
    • SEC staff views on complying with SEC reporting and disclosure requirements upon adoption of the standard.

The Roadmap combines the standard’s guidance with Deloitte’s related interpretive guidance in a comprehensive, reader-friendly format. In addition, the Roadmap contains various appendixes, including (1) a summary of differences between U.S. GAAP and IFRSs and (2) an illustrative roadmap of key activities that an entity may consider including in its own roadmap for implementing the standard.

This publication was released by our US firm.


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