The deadline for adoption of the new revenue recognition guidance is fast approaching. Certain manufacturers will see greater changes to revenue recognition than others; in general, companies that directly sell to consumers will be less affected than companies that sell through a distributor. Even if the timing of revenue recognition does not change, all entities will be subject to extensive new disclosure requirements. Companies that have early adopted have found that implementation took more time and effort than expected.
BKD has prepared this industry-specific supplement to our comprehensive white paper that highlights the changes from current accounting and the areas most likely to present implementation challenges for manufacturers. This paper incorporates all subsequent amendments, Transition Resource Group clarifications and U.S. Securities and Exchange Commission views gathered from official speeches.
Revenue Recognition Manufacturers and Distributors Supplement