SEC Updates Revenue Recognition Guidance

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The SEC updated preexisting accounting guidance to conform to Financial Accounting Standards Codification Topic 606 ("Revenue from Contracts with Customers").

United States Accounting and Audit

The SEC updated preexisting accounting guidance to conform to Financial Accounting Standards Codification Topic 606 ("Revenue from Contracts with Customers"). See Commission Guidance Regarding Revenue Recognition for Bill-and-Hold Arrangements. In addition, SEC staff from the Office of the Chief Accountant and the Division of Corporation Finance published Staff Accounting Bulletin No. 116 which updates the Staff Accounting Bulletin Series on Financial Accounting Standards Codification Topic 606.

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