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New standard triples revenue disclosures, Deloitte finds

Tammy Whitehouse | July 13, 2018

Just as regulators continue to pluck away at ideas on how to reduce disclosure overload in regulatory filings, public companies are roughly tripling their revenue-related disclosures to comply with the new revenue recognition accounting standard.

A Deloitte analysis of first-quarter filings by public companies that have adopted the new revenue standard finds some companies provided “robust and thorough disclosures,” particularly to describe their performance obligations and the significant judgments and estimates involved, while others did not. Calendar-year public companies adopted Accounting Standards Codification Topic 606 on revenue recognition, or ASC 606, as of Jan. 1, 2018. Regulators and accounting experts...

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