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IASB › Accounting Standards › Business Taxes

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IRS Issues Taxpayer Favorable Change of Accounting Method Procedures to Align with New Revenue Recognition Standards

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On May 28, 2014, FASB and IASB jointly announced new financial accounting standards for revenue recognition, titled “Revenue from Contracts with Customers (Topic 606).” For publicly-traded entities, Topic 606 was required to...more

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