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AICPA issues five new revenue recognition drafts

Tammy Whitehouse | March 1, 2017

In the steady march to new accounting for revenue recognition, the American Institute of Certified Public Company Accountants has some more new implementation drafts for companies to consider.

The AICPA’s Financial Reporting Executive Committee has released five new working drafts of accounting issues related to the new revenue recognition standard that will be folded into the AICPA’s evolving audit and accounting guide on the new requirements. Developed and drafted by industry-specific working groups that are plowing through questions specific to their particular sectors, the latest drafts focus on issues of concern to aerospace and defense companies, power and utility companies, timeshare entities,...

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