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AICPA release 11 more revenue recognition drafts

Tammy Whitehouse | April 3, 2017

Accounting experts are releasing their latest views on how to apply the new revenue recognition standard to some specific accounting conundrums identified in certain industry sectors.

The Financial Reporting Executive Committee at the American Institute of Certified Public Accountants has published 11 new working drafts meant for inclusion in a future edition of its Audit & Accounting Guide on Revenue Recognition. FinREC issued the first edition of the guide in January but plans updates as additional issues are vetted.

The latest drafts cover issues of concern to airlines and companies in...

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