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Review this website https://www.fasb.org/jsp/FASB/Page/ImageBridgePage&cid=1176169257359#section_4%20 paying special attention to FASB's motivation and summary of improvements contained in the new standard. Answer the following questions: 1.Do you

Review this website https://www.fasb.org/jsp/FASB/Page/ImageBridgePage&cid=1176169257359#section_4%20

paying special attention to FASB's motivation and summary of improvements contained in the new standard. Answer the following questions:

1.Do you think the new revenue recognition standards improve financial reporting? If yes, how so? If no, why not?

2.Do you think there are other changes FASB should have made to the revenue recognition standard?

3.Do you think it will be difficult/expensive for companies to implement the new accounting standard? In your opinion, do the benefits outweigh the costs?

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