ASC 606: Early results and lessons

The new revenue recognition standard is now effective for calendar year public business entities and not-for-profit conduit debt obligors. Calendar year end SEC registrants have recently filed their first interim financial statements under the new revenue standard. Meanwhile, according to a Connor Group study, at least 33 entities early adopted the revenue recognition standard. Regulator review of these early adopters of the new revenue standard has started. As recognition and measurement