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Impacts from change to revenue recognition range from $1B to minor tweaks

May 09, 2018 - SNL Financial

In the banking industry, the impact of a new revenue recognition standard ranged from millions of dollars in adjustments at some companies to minor accounting changes at others, according to a sampling of first-quarter earnings reports.

The change aims to standardize how companies record revenue. For most banks, the impact posed minimal changes in processes or required adjustments, but at least one institution JPMorgan Chase & Co. expects an annual impact of $1 billion.

Interest ...