Deloitte published a recent article summarizing observations as companies begin to transition to adopting the new revenue standard.
Four key observations from the article:
- 87% of companies have yet to establish a budget for implementing the new standard
- 14% of companies have determined a method of adoption (full retrospective method vs. modified retrospective method)
- Many investment analysts have expressed the belief that the full retrospective method is the optimal method of adoption
- Implementation of the new standard should be a priority for companies in 2016