The confusing complexities that just may come back to bite you
In our continuing series covering the major and minor points of the new Revenue Recognition rules contained within ASC 606, we wanted to shed
some light on some of the nuances laced through the rules’ verbiage. While on the surface the rules sound fairly straightforward, there are some confusing complexities that it’s important for your organization to be aware of and to understand. Here we look at just one component of the rule – identifying the performance obligations of a contract - to illustrate how a seemingly simple concept gets a bit more complicated the deeper we look.
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