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SEC advises caution on revenue recognition policies

Tammy Whitehouse | March 4, 2016

International regulators may be finished with their tinkering of the new revenue recognition standard but implementation discussions continue in the United States, and the Securities and Exchange Commission is advising companies to watch them closely.

The Financial Accounting Standards Board has scheduled three new meeting through November 2016 for the Transition Resource Group that is airing and answering implementation questions on the new revenue recognition standard. The group has taken in more than 80 separate questions that preparers have raised so far as they study the new standard and prepare to adopt it.

The FASB and the International Accounting Standards Board have addressed a handful of the issues with updates to the standards to provide...

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