New Accounting Rules Looming Over Revenue Reporting

revenue reporting accounting changes - sterling accounting 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‚Äôs booking of revenue with the sales of products and services…” [ Read more here ]