GAAPDynamics uses a practical example to break down step 1 of the new revenue standard

GAAPDynamics, an accounting training startup, published a recent GAAPology post which breaks down step 1 of the new revenue standard.

The post walks through a practical example comparing step 1 (Identify the contract(s) with a customer) of the new standard to the persuasive evidence of arrangement criterion of revenue recognition from the existing guidance.