ASC 606: What you need to know

by John ShieldsOn December 15, 2017, the most significant accounting changes the financial industry has seen since Sarbanes-Oxley begin.In May 2014, FASB issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606), and the International Accounting Standards Board (IASB) issued International Financial Reporting