The IRS has provided an automatic consent procedure for taxpayers to change to an accounting method that uses new standards issued by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) for recognizing revenue from customer contracts. Revenue Recognition Accounting Method Change On May 28, 2014, FASB and the IASB jointly […]
The post Customer Contract Revenue Recognition Accounting Method Change Provided (Rev. 2018-29) appeared first on Tax & Accounting Blog.