Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

×

Status message

Start your free, no obligation 10-day trial to continue exploring with full access.

Early revenue adopters report little change to numbers

Tammy Whitehouse | November 14, 2017

Early adopters of the new revenue recognition standard tend to be big companies with little change to their reported revenue numbers, but more substantial change to disclosures.

Alphabet, for example, the parent company of Google, has seen little difference in its timing and pattern of revenue recognition after adopting the new-five step method, said Amie Thuener, vice president and chief accountant. “The biggest change for us was to the footnote disclosures, not the financials themselves,” she says. “We had to change some of our processes and controls, but it was mostly around what information we gather for footnote disclosures and the way we gather it.”

Calendar-year public companies are facing a Jan. 1, 2018 deadline to begin following the new rules on revenue recognition, adopted into Generally Accepted Accounting Principles in 2014... To get the full story, subscribe now.