United States

New Revenue Recognition Standard: Potential Tax Implications

Aug 04, 2014
From the Financial Reporting View and the IFRS Institute

This edition of Defining Issues reports that changes in the timing or amount of revenue recognized by some entities under the revenue recognition standard recently issued by the FASB and IASB may affect both the calculation of and financial reporting for income taxes as well as other types of taxes. It also discusses some of the potential tax consequences entities should consider when evaluating the potential implications of adopting the new standard.

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