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Technical Line - A closer look at the new guidance on accounting for revenue contracts acquired in a business combination

20 Jan 2022 PDF
Subject AccountingLink
Publications Technical Line

Overview

The new guidance issued by the FASB on accounting for revenue contracts acquired in a business combination requires companies to apply ASC 606 to recognize and measure contract assets and contract liabilities acquired in a business combination under ASC 805. Our publication addresses key accounting and financial reporting implications of the new guidance and provides some examples to help entities apply it.

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