Companies still coming to grips with revenue recognition standard

More than half of companies are familiar with the revenue recognition standard issued by the Financial Accounting Standards Board and the International Accounting Standards Board in May, according to a study by PwC and the Financial Executives Research Foundation. But only 29% are ready to apply the standard by its 2017 effective date, and a quarter of companies said they wouldn’t be ready to adopt the standard. The AICPA’s revenue recognition page has information on the standard and implementat