Well it certainly took them long enough! After years of proposals and revisions and discussions, FASB and the IASB have finally issued the long-awaited revenue recognition standard.
The Financial Accounting Standards Board’s (FASB) new revenue recognition standard will have a major impact on a number of companies, particularly Software-as-a-Service (Saas) firms, according to guest author Jim Perry, the director of EPM Enablement at Infor.