An analysis of Fortune 1000 disclosures about the impending changes to revenue recognition provides further disturbing evidence that companies are making only sluggish progress in preparing for the new accounting.
Deloitte analyzed disclosures by the Fortune 1000 in their most recent periodic filings and found half had not yet determined whether they would adopt the new revenue recognition standard following the full or modified retrospective methods. Only 10 percent said definitively they were electing the full retrospective method, meaning they will present three years worth of financial data as if the standard had always been in effect when they adopt the new accounting in 2018.
The analysis also suggests companies...
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