Results for tag: "ASC 606"

The ASC 606 market is a set of accounting standards issued by the Financial Accounting Standards Board (FASB) in the United States. The standards are intended to provide a consistent framework for companies to report their revenue from contracts with customers. The standards are based on the principle that revenue should be recognized when it is earned, rather than when it is received. The standards are applicable to all companies that enter into contracts with customers, including those in the public and private sectors. The ASC 606 market has been adopted by many countries around the world, including the United States, Canada, the United Kingdom, and Australia. The standards are designed to improve the accuracy and consistency of financial reporting, and to provide investors with more reliable information about a company's performance. Some companies in the ASC 606 market include Microsoft, Apple, Amazon, Google, IBM, Oracle, and SAP. Show Less Read more