Posts Tagged: "Revenue Recognition"
February 16, 2021
5 Questions Nonprofits Are Asking About Revenue Recognition1. What is the purpose of ASU 2018-08 and ASC 606? With ASC Topic 606, FASB seeks to bring US GAAP standards for revenue recognition into closer alignment with international standards (IRFS) so there can be greater clarity and consistency in treatment across nations, industries, and markets. ASU 2018-08 improves and clarifies the scope and…