In this report, we continue our series on Matters for Further Consideration (MFCs) coming from peer review. We spotlight the new leading source of MFCs citing a FASB Accounting Standards Codification (FASB ASC) Topic - FASB ASC 606, Revenue from Contracts with a Customer. FASB ASC 606 comprised approximately 30% of all MFCs which cited a FASB ASC Topic. In the span of a few years, the new revenue standard has caused revenue related MFCs to catapult to the top
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2023 Peer Review MFCs: A New #1 -- FASB ASC 606
Apr 15, 2024 · 1 min read
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