Beware - New Revenue Recognition Standard (ASC 606) May Have Commercial Activity Tax (“CAT”) Consequ

PDF/Printer Friendly Version Most publicly-traded companies are currently evaluating the impact of Accounting Standards Codification (“ASC” or “Standard”) 606, Revenue From Contracts With Customers, on their financial statements. ASC 606 requires that an entity recognize revenue in an amount that reflects the consideration the entity expects to be entitled to in exchange for its sale of goods or services. The Standard could result in a company no longer recognizing certain revenue or it could change the timing of when revenue is recognized. Most companies are also evaluating whether the company should change some of its accounting methods for federal income tax purposes. Companies shou

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