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Entries by Jason Patch, Justin Hayes

Revenue Recognition Changes Are Here. Is Your Manufacturing Company Ready?

Posted 1:00 PM by
In recent years, the Financial Accounting Standards Board (FASB) received feedback that revenue recognition guidance was fragmented at best, confusing at worst. This is significant considering revenue is the key measurement used to determine a manufacturing company’s performance. In response to this feedback, the FASB issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, in May 2014, and subsequently amended it. This is the most significant revision to U.S. Generally Accepted Accounting Principles (U.S. GAAP) revenue recognition standards in history.
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