Recently the (FASB) Financial Accounting Standards Board and (IASB) International Accounting Standards Board got together to try to make “revenue” mean the same thing in every industry and every country.
And while that might sound easy, it turns out that the US alone is notorious for having different rules for different economic sectors. So, the FASB and IASB set out to fix that.
In 2018, the new model guidelines they set for public companies went into effect. And in 2019? They....