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Effective Date: 6/06 Reissue Date: 2/18 Reviewed Date: 2/18 NYU Lang one hospital Issuing Department: Administration Charity Care and Financial Assistance. Page: 1 of 6POLICYNYU Lang one hospital
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What is effective date 606?
Effective date 606 refers to the new revenue recognition standard issued by the Financial Accounting Standards Board (FASB).
Who is required to file effective date 606?
Effective date 606 must be filed by companies that follow generally accepted accounting principles (GAAP) and have revenue from contracts with customers.
How to fill out effective date 606?
Effective date 606 should be filled out by following the guidelines provided in the revenue recognition standard and ensuring accurate reporting of revenue from customer contracts.
What is the purpose of effective date 606?
The purpose of effective date 606 is to improve the consistency and comparability of financial statements across different industries.
What information must be reported on effective date 606?
Effective date 606 requires reporting of revenue, including the timing and amount of revenue recognized from contracts with customers.
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