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Effective Date of Revenue Recognition and Leases Standards for Certain Entities has been extended

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22 May 2020


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The FASB met on Wednesday, May 20, 2020 voted to extend the effective date of Topics 606, Revenue from Contracts with Customers, and 842, Leases, for certain entities and has directed the staff to draft a final Accounting Standards Update (ASU) for vote by written ballot.

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