Research 2 industries where revenue recognition complexity has led to changes in measuring and reporting revenue. We touched on higher education and the ski industry in class. Pick 2 other industries and identify 2 specific companies(one within each industry) impacted and discuss, in relation to the 5 Steps to Revenue Recognition as provided by ASC Topic 606, what factors are at play and how the company (and industry as a whole) are addressing the new standards. Cite your sources appropriately for both industry and individual company research. Should have a minimum of 4 sources (2 industry sources and 2 corporate-related sources) Your submission should include a written discussion along with an outline of the 5 Steps applied to each industry or each specific company. So, overall you should be addressing the 5 Steps twice, with supporting written analysis and summary.

Answer rating: 100% (QA)

ASC 606 establishes comprehensive accounting and disclosure guidance for revenue recognition and will replace substantially all existing US GAAP on this topic The new guidelines will be substantially ... View the full answer