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Early filings point to uptick in revenue failures

Tammy Whitehouse | February 9, 2018

Audit Analytics is predicting companies will disclose an increased number of accounting failures in 2018 after the adoption of new rules on revenue recognition.

“While it may be early to say, our review of SEC filings provides a strong indication that we will see an uptick in revenue recognition accounting failures,” writes Olga Usvyatsky, a staff member at the research firm.

Audit Analytics has been performing quarterly analyses of corporate disclosures with respect to the adoption of the new revenue recognition standard, Accounting Standards Codification Topic 606, which took effect for public companies on Jan. 1, 2018. Companies heard...

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