revenue recognition new revenue recognition standards revenue recognition standard Why do we need a new standard on revenue recognition? new standards for Recognition of Revenue More on the directive is available on FASB's Web site Financial Accounting Standards Board: Revenue Recognition FASB: Revenue Recognition standard new revenue recognition FASB Revenue Recognition ASC 606 More on the directive is available on FASB's Web site ASC 606 More on the directive is available on FASB's Web site FASB Financial Accounting Standards Board (FASB), revenue recognition