Alert

Proposed Deferral of Revenue Recognition Changes

April 1, 2015
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On Wednesday, April 1, 2015, the Financial Accounting Standards Board (FASB) voted to issue a proposal that will defer the effective dates for the new revenue recognition standard, Topic 606, Revenue from Contracts with Customers. The proposal, if approved, will defer the effective date of Topic 606 by one year for both public and nonpublic entities.

The table below shows a breakdown of the revised effective dates that will be proposed for public and nonpublic entities:

New Revenue Recognition Standard Proposed Effective Dates

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The FASB will expose the proposal for a 30-day comment period. For more information on Topic 606, see our July Revenue Recognition white paper. If you have questions on how the proposed deferral may impact your organization, contact your Moss Adams professional.

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The material appearing in this communication is for informational purposes only and should not be construed as advice of any kind, including legal, accounting, tax, or investment advice. This information is not intended to create, and receipt does not constitute, a legal relationship, including, but not limited to, an accountant-client relationship. Although these materials have been prepared by professionals, the user should not substitute these materials for professional services, and should seek advice from an independent advisor before acting on any information presented. Changes in tax laws or other factors could affect the information provided in this communication.

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