Netflix’s path into the original content game may be posing the need for some accounting changes due to recent changes in regulations with the FASB…
“That’s because of a new rule issued by the Financial Accounting Standards Board in 2014, that changes standards for how companies recognize revenue. Companies have until January 2018 to implement the new revenue standards…” [ Read more here ]
New accounting rules are looming for businesses and corporations, which is causing a stir for many as their revenue reporting methods are being overhauled. “The U.S. Financial Accounting Standards Board, known as FASB, imposed the new rule because it wanted financial statements to more accurately depict the timing, uncertainty and volatility of doing business. The rule will align a company’s booking of revenue with the sales of products and services…” [ Read more here ]
The accounting industry is seeing some changes in recent months, which are being outlined by Accounting Today: “Four seismic shifts are going on in the accounting landscape right now, a panel of experts recently told a conference of CPA firm partners and leaders, from how firms generate their revenue and how they staff their engagements, to how they service their clients and how they will build the firms of the future…” [ Read more here ]