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Updated: Mar 26, 2026

FIBS-enabled Noninvasive Metabolic Profiling
Published on: February 3, 2014
New FASB standard addresses revenue recognition considerations
Abstract:
Healthcare organizations are expected to apply the following steps in revenue recognition under the new standard issued in May 2014 by the Financial Accounting Standards Board: Identify the customer contract. Identify the performance obligations in the contract. Determine the transaction price. Allocate the transaction price to the performance obligations in the contract. Recognize revenue when--or in some circumstances, as--the entity satisfies the performance obligation.
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