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Revenue Recognition Whitepaper: S&P 500 Companies Prefer Modified Retrospective Transition

November 12, 2018

A majority of S&P 500 companies chose the simplicity of the modified retrospective transition for their revenue recognition standard implementation, a new whitepaper shows. The Financial Accounting Standards Board's (FASB) new revenue recognition standard, which took effect at the beginning of 2018 for public companies, presented financial statement preparers with two options for transition. The full retrospective transition provides investors with more information because it requires the presentation of the three previous years’ financials under the new rules. Click here for more information.