Industry Supplement | January 2018
KPMG’s insights on ASC 606 implementation. With the new revenue standard now in effect, KPMG reports on the most significant industry issues.
Applying the new revenue recognition standard
Mandatory effective dates and early adoption provisions:
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 entites the effective date for annual periods is the fiscal years beginning after Dec. 15, 2018.
For public business entities and certain not-for-profit entities the effective date for interim periods is the fiscal years beginning after Dec. 15, 2017.
For all other entites the effective date for interim periods is the fiscal years beginning after Dec. 15, 2019.
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 asset managers
Download PDFHandbook: Revenue recognition
Latest edition: Our in-depth guide to the revenue standard, ASC 606, with Q&As. interpretive guidance and examples.
Financial reporting impacts of COVID-19
Guidance, updates and news covering financial reporting impacts of COVID-19
Receive the latest financial reporting and accounting updates with our newsletters and more delivered to your inbox.
Access our accounting research website for additional resources for your financial reporting needs.