Industry Supplement | November 2016
KPMG's insights on industry ASC 606 implementation. With the new revenue recognition standard effective date approaching, KPMG offers insight on the most significant industry issues.
Mandatory effective dates and early adoption provisions:
Annual periods:
For public business entities and certain not-for-profit entities the effective date for annual periods is the fiscal years beginning after Dec. 15, 2017.
For all other entities the effective date for annual periods is the fiscal years beginning after Dec. 15, 2018.
Interim periods:
For public business entitites and certain not-for-profit entities the effective date for interim periods is the fiscal years beginning after Dec. 15, 2017.
For all other entities the effective date for interim periods is the fiscal years beginning after Dec. 15, 2019.
Early adoption:
For public business entities and certain not-for-profit entities the effective date for early adoption is the fiscal years beginning after Dec. 15, 2016.
For all other entites the effective date for early adoption is the fiscal years beginning after Dec. 15, 2016.
Revenue for the software and SaaS industry
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