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Revenue compliance questioned heading toward year-end

Tammy Whitehouse | October 9, 2018

Whatever public companies have been saying in their disclosures about revenue recognition so far, regulatory reaction after two quarterly filings would suggest they should plan to say more.

“Expand and clarify,” says Eric Knachel, a senior consultation partner at Deloitte & Touche. Those, he says, are the two most common words appearing in comment letters issued by the Securities and Exchange Commission to public companies that are complying with new revenue accounting rules under Accounting Standards Codification Topic 606.

The standard ...

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