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FASB issues guides on revenue, consolidations

Tammy Whitehouse | June 14, 2018

Staff at the Financial Accounting Standards Board issued two new implementation guides to help companies navigate the GAAP taxonomy in the areas of revenue recognition and consolidations.

Companies use the GAAP Financial Reporting Taxonomy to select the tags necessary to complete their XBRL filings. FASB staff have produced a series of implementation guides to give preparers some supplemental guidance on using the taxonomy to create their XBRL documents.

The new implementation guide on revenue is intended to demonstrate the...

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