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(The.Idea.Exchange) Blog. Timely articles on a wide range of topics including new tax legislation, accounting regulations, best practices, industry news, business insights and more.

New Revenue Recognition Standard

The Financial Accounting Standards Board (FASB) wanted to improve comparability and consistencies across entities and industries, and improve the usefulness of financial statements through enhanced disclosures. So a new standard was issued. There are two key principles under the new…

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