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Should FASB Delay Revenue Recognition Effective Date?

Should FASB Delay Revenue Recognition Effective Da

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There have been many articles lately reporting that the Financial Accounting Standards Board is considering delaying the effective date for its revenue recognition standard. The standard is slated to go into effect in 2017, but many bigger companies, such as AT&T and Verizon, have asked FASB to delay implementing the revenue rule. It sounds like FASB will make a decision in the second quarter of this year. What have you heard from your clients? Are they on schedule to meet the 2017 effective date, or could they use more time to update their systems and processes on the new requirements for recognizing revenue? Should the effective date be delayed? Let us know what you've been hearing.

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