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AICPA offers views on revenue recognition implementation issues

Tammy Whitehouse | July 12, 2016

In an update on the work of the American Institute of Certified Public Accountant’s 16 separate industry-focused task forces that are working through industry-specific questions on how to apply the new revenue recognition principles, the AICPA says it has identified more than 150 issues that merit attention. Only a dozen of the issues have been referred to the Financial Accounting Standards Board’s Transition Resource Group, which is helping work through implementation questions and is determining what questions should referred to FASB for clarifying standard setting. Beyond the dozen, arising from a number of different industry task forces, a few more issues have been reported to FASB for suggested technical...

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