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FASB issues yet another revenue recognition clarification

Tammy Whitehouse | February 23, 2017

Down deep in the weeds of the implementation of the new revenue recognition standard, companies have a new clarification to consider from the Financial Accounting Standards Board around certain nonfinancial assets. 

The FASB issued Accounting Standards Update No. 2017-05 to clarify what it meant in its massive new requirements around how to recognize revenue in financial statements regarding gains and losses from the derecognition of nonfinancial assets in contracts with noncustomers. The board said it heard of...

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