All TRG articles

  • Blog post

    FASB preps CECL edit to allow more fair value


    To make it easier for companies to adopt CECL for credit losses, FASB is considering a change that would permit more use of fair value.

  • Blog post

    FASB staff plan to suggest CECL edits to answer questions


    FASB staff plan to suggest narrow changes to the new standard on credit losses to answer implementation questions on classification changes, interest, and more.

  • Article

    Revenue judgments about to go under the microscope


    As they file their first 10-Qs under new revenue rules, companies may find their judgments will face a whole new round of scrutiny in the very next quarter.

  • Blog post

    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.

  • Blog post

    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.

  • Blog post

    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.

  • Blog post

    Revenue group gets stuck on two new implementation questions


    FASB’s Transition Resource Group met recently to discuss revenue recognition implementation, but new questions were raised about whether there may be some lingering issues requiring more standard-setting attention from the board. Tammy Whitehouse has more.

  • Blog post

    FASB wraps up revenue recognition technical decisions


    FASB has determined how it wants to address questions around certain aspects of the disclosure requirements for unmet performance obligations in the new revenue recognition standard. The board plans to add a practical expedient to the disclosure requirements around certain types of variable consideration; it also will make some improvements ...

  • RevenueImage
    Blog post

    SEC advises caution on revenue recognition policies


    While international regulators have finished up with revenue recognition, the SEC continues to advise companies to scrutinize U.S. regulators’ impending work on the standard. FASB has scheduled three meetings for the Transition Resource Group, which will be airing and discussing any implementation questions it has received. According to Deputy Chief ...

  • Article

    Extra Year on Revenue Standard Means More Time to Sweat


    Image: Don’t let your accounting department get too excited with that additional year FASB has granted to adopt the new standard for revenue recognition. Experts helping companies’ implementation efforts say that extra time is much needed, with plenty of questions about the standard remaining unanswered. And don’t forget, “half of ...