General Counsel Update
Planning for New Revenue Recognition Standards—Governance, Communications and Disclosure Implications

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FASB’s ratification of new revenue recognition standards on September 23, 2009 means that companies will soon be adopting policies that in many instances will result in significantly accelerated revenue recognition on bundled sales of goods and services. The change will affect companies in industries as diverse as automobile, biotechnology, industrial equipment, information technology, manufacturing, medical device and telecommunications. Companies that sell bundled hardware, software and services may experience the largest impact.

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