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The FASB has issued for public comment a proposed accounting standards update, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, that would defer the effective date of the new revenue recognition standard for one year. Comments on the document are due on May 29, 2015.
If the proposed accounting standards update is approved, the revenue recognition standard for non-public companies will be effective for annual reporting periods beginning after December 15, 2018 and interim reporting periods within annual reporting periods beginning after December 15, 2019. The proposal would require public companies to apply the standard for annual and interim periods beginning after December 15, 2017. The FASB has also proposed that early adoption would be permitted for year-ends beginning after December 15, 2016 which was the original date for public companies.