revenue recognition

What improvements will we see from the revenue recognition project? What is the cost? Topic 605

Ponder this:

what will a new revenue recognition standard accomplish to improve financial reporting? And at what cost?

Those are Tom Selling’s questions in his post, Revenue Recognition Sure Isn’t Perfect – But Convergence will be much Worse.

What cost?

As to the cost question, I expect it would be very high. The disruption to preparers, confusion for report users, and increased time for auditors would be big.