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What are the new reporting and disclosure requirements for revenue recognition? Why is revenue recognition a...

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Accounting

What are the new reporting and disclosure requirements forrevenue recognition? Why is revenue recognition a Big Deal?

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What are the new reporting and disclosure requirements for revenue recognition 1 Revenue recognized from contracts with customers should be disclosed separately from other sources of revenue 2 Opening and closing balances of receivables contract assets and contract liabilities 3 Any impairment loss    See Answer
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