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Cost guidance under new revenue rule is a minefield of issues

Tammy Whitehouse | August 8, 2017

Digging deeper into challenges with the revenue recognition standard, companies find they are walking through a minefield when determining how to recognize costs associated with generating revenue.

As the Financial Accounting Standards Board developed its comprehensive new rule on revenue recognition to replace hundreds of historical accounting pronouncements, preparers began chirping about historic cost-tied-to-revenue guidance that would go away, leaving a potential void in the accounting rules. The new rule takes effect for public companies in 2018, and by many accounts... To get the full story, subscribe now.