Applying financial reporting standards can be quite complex. The BDO team can help you assess your situation and prepare for the opportunities and challenges involved.
New Section 1591 is applicable for fiscal years beginning on or after January 1, 2016. This publication provides an overview of the highlights of the Section including a new scope exemption, new control guidance and recognition options. It also provides examples of common scenarios entities could encounter in adopting this new Section and the transitional relief available.