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Companies lagging on revenue recognition accounting changes

One in three businesses remain uncertain about how to deal with new accounting standards around revenue recognition for contracts despite the rules kicking in this year, according to research from the University of Melbourne.

Companies lagging on revenue recognition accounting changes
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The new rules involve a potentially complex five-step assessment process, but essentially look to have companies book revenue and costs for contracts as the goods or services are provided.

Read the full article at the Australian Financial Review.

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