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SEC Expects Year-End Disclosures on Revenue Rule Plans

Tammy Whitehouse | October 28, 2015

Even with year-end 2015 financial statements, the Securities and Exchange Commission will be looking for disclosures to explain how companies plan to adopt the new accounting standard on revenue recognition in 2018.

Schnurr-james-1214-updatedIn an address to a conference for audit committees, Jim Schnurr, chief accountant at the SEC, said audit committees need to get involved in overseeing corporate implementation of the new standard, which takes effect under both U.S. GAAP and international rules in 2018....

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