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Revenue recognition: full retrospective, modified retrospective, or somewhere in-between

Tammy Whitehouse | February 2, 2016

Those at the forefront of implementing the new revenue recognition accounting standard are starting to favor the idea of presenting three complete years of historical data under the new rules, but many companies are still lagging in the assessments necessary to make any determination at all.

Experts who are in the battle grounds helping companies wade through the massive new requirements and determine how they will comply with them say those furthest along are seeing the benefits of a full retrospective adoption. That means presenting 2016 and 2017 financial statement data in 2018, the year of adoption, as if the standard had been in effect all along.

A recent poll by Deloitte, for example, found 38 percent of 170 people representing primarily technology, media, and... To get the full story, subscribe now.