IDG Contributor Network: 3 ways that revenue recognition will impact IT

Has your CFO been talking about something called revenue recognition that's supposed to go live next year? It’s a completely new five-step model that replaces over 150 pieces of existing guidance on how to recognize revenue and consistently applies the same approach across industries – so no more specialized industry rules.The five-step model is as follows:Identify the contract with the customer
Identify the performance obligations
Allocate the transaction price to the performance ob