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GAAP Revenue Recognition Standards for Prepaid Card Breakage Revenue Becomes Fully Effective

Dec 15, 2019 | Accounting Updates

Leawood, KS – December 15, 2019: The Financial Accounting Standards Board (FASB) issued ASU 2016-04 on Liabilities including Subtopic 405-20 on Extinguishment of Liabilities. The standards permit issuers of certain prepaid cards to recognize breakage revenue from...

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