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Published by: Stanford Business School
Originally published in: 2018
Version: 1 June 2018
Revision date: 15-Mar-2019

Abstract

In July 2017, software and device giant Microsoft [NasdaqGS: MSFT] adopted a new accounting standard that market observers described as one of 'the most historic accounting changes to hit the US capital markets in decades.' Twelve years in the making, the Financial Accounting Standards Board's (FASB) 2014-09 Revenue from Contracts with Customers (Topic 606) laid out new rules for making revenue recognition consistent across industries, both in the U.S. and internationally through its International Financial Reporting Standards (IFRS) equivalent, IFRS 15.

Time period

The events covered by this case took place in 2018.

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Abstract

In July 2017, software and device giant Microsoft [NasdaqGS: MSFT] adopted a new accounting standard that market observers described as one of 'the most historic accounting changes to hit the US capital markets in decades.' Twelve years in the making, the Financial Accounting Standards Board's (FASB) 2014-09 Revenue from Contracts with Customers (Topic 606) laid out new rules for making revenue recognition consistent across industries, both in the U.S. and internationally through its International Financial Reporting Standards (IFRS) equivalent, IFRS 15.

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Time period

The events covered by this case took place in 2018.

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