ASU 2014-09-SECTION -A

Revenue is an important number to users of financial statements in assessing an
entity’s financial performance and position. However, previous revenue
recognition requirements in U.S. generally accepted accounting principles
(GAAP) differ from those in International Financial Reporting Standards (IFRS),
and both sets of requirements were in need of improvement. Previous revenue
recognition guidance in U.S. GAAP comprised broad revenue recognition
concepts together with numerous revenue requirements for particular industries
or transactions, which sometimes resulted in different accounting for
economically similar transactions.