revenue standards

/Tag: revenue standards

revenue standards

AHLA’s Financial Management Committee Issues Guidance for the New Revenue Recognition Standards

American Hotel & Lodging Association (AHLA) | January 25, 2018

The Financial Accounting Standards Board ("FASB") recently revised how revenue from contracts with customers should be recorded. This was contained in FASB's Accounting Standards Codification ("ASC") 606. Implementation of ASC 606 is effective starting January 1, 2018 for public companies and no later than December 31, 2019 for all other companies. The objectives of the new accounting guidance are to clarify how revenue should be recognized for goods and services. The American Hotel & Lodging Association's (AHLA) Financial Management Committee has issued guidance on the new revenue recognition standards and how it affects the hotel ...

As the first news aggregate for the hotel industry, Hotel-Online is the industry’s must-read daily news source for everything hotel curated for busy professionals. Sign up today for industry news delivered to your inbox.