United States

Revenue Standard Portends Potential Tax Changes

May 02, 2016
From the Financial Reporting View

This edition of Defining Issues reports that the FASB’s revenue standard supersedes substantially all existing U.S. GAAP on revenue recognition, thus, companies may need to change the timing or amount of revenue recognized in their financial statements. These financial reporting changes may affect the calculation and financial reporting for income taxes and other types of taxes.

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