Accounting Standards Update · 2016

ASU 2016-20 — Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers

Affects606 Revenue from Contracts with Customers

The amendments in this Update cover a variety of Topics in the Codification related to the new revenue recognition standard (Accounting Standards Update No. 2014-09). The amendments in this Update represent changes to make minor corrections or minor improvements to the Codification that are not expected to have a significant effect on current accounting practice or create a significant administrative cost to most entities.

This Update is the final, combined version of Proposed Accounting Standards Updates 2016-240 and 2016-320 (both entitled Technical Corrections and Improvements), which have been deleted.

Accounting Standards Update No. 2016-20 (PDF)

Issued: December 21, 2016

Text as published in the FASB Accounting Standards Codification, Basic View.