Impact of Adoption of New Revenue Recognition Standard on Financial Statements Required in Form S-3
The new revenue recognition standard, Accounting Standards Codification Topic 606 (ASC 606), is effective for most U.S. public companies for annual reporting periods beginning after December 15, 2017. For a calendar year reporting registrant, ASC 606 is effective January 1, 2018 and will be required to be reflected in a registrant’s first quarter 2018 Form 10-Q.