New revenue standard changing for most public and nonpublic entities reporting under U.S. GAAP
January 1, 2018 is the effective date of the new revenue standard for most public and nonpublic entities reporting under U.S. GAAP. As one of the biggest changes in accounting standards in recent history, FASB’s new single, principle-based approach to accounting for revenue is a turnaround from the existing rule-based system. A lot of guidance has been made available around the new standard in regards to how it changes revenue accounting and related disclosures.
Learn more about whether your commission management solution is able to comply, so you can be prepared for the changes ahead.
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