New FASB Standard for Revenue Recognition
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The book we are using is: Financial Reporting and Analysis. Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred
Mittelstaedt, and Leonard Soffer. 7th Edition. Publication Date: Feb 26, 2014. ISBN: ISBN 978-1-259-72265-3. Prior Editions are available. **** (Specifically Chapter 3)
Please provide 5-7 bullet points for each of the following:
1. Reason(s) for the new standard
2. Benefit to Financial Statement users
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