All Revenue Recognition articles – Page 8
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FASB offers views on lease accounting questions
FASB is getting questions on how to apply the new leasing standard, so the board took the unusual step of offering some informal, high-level feedback. Tammy Whitehouse reports.
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Transition experts vet four more revenue recognition questions
Companies working to implement the new revenue recognition standard have a little more guidance to consider after FASB’s Transition Resource Group has vetted some lingering uncertainties. Tammy Whitehouse has more.
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Revenue recognition laggards outnumbered in new poll
Tammy Whitehouse has the results of a fresh survey on revenue recognition that suggests 75 percent of public companies are still assessing how they will be affected with only 14 months to the effective date.
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AICPA issues 7 new drafts on revenue recognition questions
Tammy Whitehouse looks at the AICPA’s seven new working drafts to address some of the hardest revenue recognition questions in software, telecommunications, and other sectors.
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ArticleIn tech sectors, revenue recognition talks are intense
In preparing to adopt the new revenue recognition standard, experts debate how to apply the rules to complex contracts. Tammy Whitehouse reports.
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FASB offers more narrow corrections to new revenue rule
FASB has issued another proposed update to the massive new standard on revenue recognition to address more technical corrections and upgrades on a handful of narrow issues. Tammy Whitehouse has more.
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Companies make early progress in adopting revenue recognition
As summer slips away, it appears many companies used the time wisely to make some progress in adopting the new revenue recognition accounting standard. Tammy Whitehouse has more.
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Alert calls out audit risks under new revenue rule
With implementation of the revenue standard looming, the American Institute of Certified Public Accountants has issued some guidance to help companies keep audit risks in mind. More from Tammy Whitehouse.
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10 things about the new revenue standard: Round 3
CW columnist Scott Taub offers 10 more thoughts on why it’s crucial companies begin to implement the Financial Accounting Standards Board’s revenue recognition standard and what pitfalls await those who choose to delay.
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AICPA offers views on revenue recognition implementation issues
In the ongoing quest for consistent interpretations of the new revenue recognition standard, task forces at the American Institute of Certified Public Accountants have issued several new papers for public comment.
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Volume rises on call for disclosures regarding accounting changes
With the second quarter rapidly coming to a close for calendar-year public companies, now might be a good time to take a fresh look at how much the company is saying about its plans to adopt new accounting standards. The call for incrementally more information is getting louder. Tammy Whitehouse ...
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Big 4 polls say companies are stalled on big accounting changes
More Big 4 surveys on big accounting changes suggest companies are starting to face a kind of paralysis over how to move forward and make it all work. On revenue recognition a recent KPMG poll suggests the vast majority of companies are still trying to digest how it will affect ...
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FASB proposes guidance on how to reflect non-financial asset shed
FASB is offering yet another accounting proposal meant to help smooth over implementation of the new revenue recognition standard. The change would apply to an area of the Accounting Standards Codification that was amended to comply with the new revenue standard in order to aid compliance with the rules around ...
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Transparency penalty? Companies pondering revenue adoption, beware
Companies that are considering how they will adopt the new revenue standard should take into account whether they might expect to access the capital markets in a stock offering anytime soon after putting the new accounting to work. It could affect just how much revenue they’ll need to restate. Tammy ...
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ArticleAccounting leaders need a wake-up call on revenue recognition
New revenue recognition standards will come into force within 18 months, but accounting leaders everywhere don’t seem to be in a hurry to undertake the huge amount of work it will take to get ready. Tammy Whitehouse reports from the Compliance Week 2016 conference.
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Intacct launches solution to address new revenue recognition guidelines
Intacct, a provider of cloud ERP software, announced the launch of Intacct Contract and Revenue Management, an automated solution to help companies navigate the complexities created by the upcoming ASC 606 and IFRS 15 revenue recognition guidelines.
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FASB rolls out more technical corrections to revenue recognition rule
After the Financial Accounting Standards Board spent months working through amendments to the revenue recognition standard that is set to take effect in 2018, it turns out there are still more small changes coming.
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New revenue recognition rules prompt wide variety of adoption strategies
With new revenue recognition rules fast approaching, public companies everywhere are preparing as best they can, but an uncertain future awaits everyone. Tammy Whitehouse looks at what’s behind implementation delays.
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FASB finishes revenue recognition amendments
FASB has issued final amendments to the revenue recognition standard to clarify such aspects as how to assess certain collectibility criteria, how to present sales tax collected from customers, how to reflect non-cash consideration, and more. Tammy Whitehouse reports.
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SEC scrutinizing revenue judgments under new and old rules, deputy warns
As new standards on revenue recognition, leases, and more will touch trillions of dollars on corporate balance sheets, SEC Deputy Chief Accountant Wesley Bricker advises companies to explain to investors what is changing, why it’s changing, how it will change, and when. Tammy Whitehouse has more.