Revenue Recognition Considerations for the Manufacturing Industry

All entities will have to reevaluate their revenue recognition processes when the Financial Accounting Standard Board (FASB)’s Accounting Standard Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606) is adopted, beginning with those early adopting in 2017.

Manufacturing companies face unique considerations with the new revenue recognition guidance. They should consider how the following situations and scenarios may be affected by the ASU now in order to prepare for the guidance’s effective date.

Learn more about the accounting standard in this MHM Messenger.

%d bloggers like this: