When implementing the FASB’s revenue standard some companies will need to make wholesale changes to their income statements as a result of the new recognition and measurement requirements. For other companies, the impact of those requirements will be less significant. However, all entities should carefully consider the standard’s new and modified quantitative and qualitative disclosure requirements, as implementation could be challenging. Learn more about the annual disclosures needed in first quarterly filings, and other forthcoming requirements.

Source: Wall Street Journal March 31, 2017 20:48 UTC