Current Developments: US GAAP - Q3 2017 | KPMG | CA
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Current Developments: US GAAP - Q3 2017

Current Developments: US GAAP - Q3 2017

Although the revenue standard is the primary focus for most companies, implementing the leases and credit impairment standards follows closely

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Canadian Managing Partner, Audit

KPMG in Canada

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Current Developments

The 2018 effective date of the revenue standard for public companies is almost here. Although companies are rightfully focused on the accounting requirements, they also must focus on the broader aspects of adoption, which are critical to successful implementation. These include internal controls over financial reporting and disclosures.

Although the revenue standard is the primary focus for most companies, implementing the leases and credit impairment standards follows closely in its path. Companies that are further along in their implementation efforts for these standards are realizing that they need more time and resources than they originally expected to properly sort through and implement the new requirements.

Our publication summarizes these and other accounting and financial reporting developments potentially affecting you in the current period or near term.

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