The new revenue recognition standard — engineering and construction

miércoles, 24 de diciembre de 2014

The new guidance in ASC 606, Revenue from Contracts with Customers, outlines the principles an entity must apply to measure and recognize revenue and the related cash flows. The core principle is that an entity will recognize revenue at an amount that reflects the consideration to which the entity expects to be entitled in exchange for transferring goods or services to a customer.

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