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- Title
THE REVENUE RECOGNITION STANDARD AND SMALL BUSINESS: The newly updated standard is likely to affect small businesses differently depending on which industry they operate in.
- Authors
SCARBROUGH, EVAN
- Abstract
The article offers information on the International Financial Reporting Standards (IFRS) 15 and Accounting Standards Codification (ASC) 606 that were issued in 2018 by the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB), respectively. Topics discussed include the impact of these rules on small businesses, the industries that will be heavily affected, and advice for accountants applying these standards.
- Subjects
INTERNATIONAL Financial Reporting Standards; INTERNATIONAL Accounting Standards Board; FINANCIAL Accounting Standards Board; INTERNATIONAL accounting standards; SMALL business accounting; ACCOUNTANTS
- Publication
Strategic Finance, 2018, Vol 100, Issue 5, p27
- ISSN
1524-833X
- Publication type
Article