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Revenue recognition poses new challenges for telecommunications ind...
Time-length-icon 20m 6s
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Publish-date-icon May 29, 2014
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EPISODE DESCRIPTION

Telecommunications is one of the industries that will experience significant changes as a result of the new revenue recognition standard released by FASB and the International Accounting Standards Board. Accounting standard setters predict changes for telecommunications companies regardless of whether they use U.S. GAAP or IFRS for their financial reporting. AT&T Director of Accounting Bill Schneider, CPA, CGMA, discusses the challenges associated with recognizing revenue earlier for certain transactions, determining what performance obligations are, and a possible need for costly systems changes.

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