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What the new global standard on revenue means for software and cloud services

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A new global standard on revenue
What this means for the software and cloud services industry

The International Accounting Standards Board (IASB) and U.S. FASB have issued their new Standard on revenue – IFRS 15 "Revenue from Contracts with Customers" (ASU 2014-09 or Topic 606 in the United States). Read a summary of the new requirements and what they will mean for the software and cloud services industry.