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Manufacturers Should Act Now to Adopt the New Revenue Recognition Standards

Manufacturers Should Act Now to Adopt the New Revenue Recognition Standards

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February 2019

Like many businesses, you may have put off the changes required to align with new revenue recognition accounting standards. The standards, set by the Financial Accounting Standards Board (FASB), are effective this year for annual reporting periods, and in 2020 for interim periods. There is still time to comply, but manufacturing companies should act now to avoid time-intensive adjustments during a year-end audit or review.

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