We continue our revenue recognition series on implementation issues from Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers. In Part I of our series, we emphasized the importance of preparation as a result of the magnitude of changes in financial reporting but also due to anticipated changes in the conduct of business in the economy. Part I of our series on the significant areas of implementation covered the following topical areas of ASU 2014-09:
The minimum requirements