A survey conducted by Grant Thorton in April of this year revealed some startling news about our nation's CFOs: they're unaware of some serious changes coming in the next few years.
As the article, written by Michael Cohn of "Accounting Today", stated, "Even though revenue recognition is a priority convergence project that the two boards have been working on and discussing endlessly for the past five years, the survey found that 54 percent of the CFOs polled were unaware of the long-awaited revenue recognition standards, according to the survey. The awareness dropped even further with the size of the company. For companies with less than $100 million in annual revenue, only 38 percent of the CFOs surveyed were aware of the changes in the works."
Click here to read the survey for yourself:
