IASB Proposes Updates on Revenue Standard
The International Accounting Standards Board has floated a few ideas to help clarify the new revenue recognition standard, and is asking for public comment on the proposals. All three clarifications address performance obligations under the new standard and seek to clarify questions such as who is a principal or agent, ...
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Taxing Times Ahead on Revenue Standard
Among the many issues companies must address as they adopt the new revenue recognition standard, tax consequences are gaining more attention. The IRS is seeking comment on how burdensome tax reporting might become, and the standard’s fundamental shift in recognizing revenue could make the burden quite heavy. “There’s a lot ...
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News BriefPCAOB chair Williams latest independent official pushed out by Trump
Continuing a Trump administration practice of firing independent regulators, the head of the Public Accounting Oversight Board has been sent packing.
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News BriefCommunication and relationships is increasingly critical for compliance teams
Compliance is increasingly in the spotlight as companies are tackling everything from artificial intelligence and other new technologies to risk management and mitigation. But it’s soft skills of communication and relationship building that are becoming the most critical tools for success.