Here are a few of the earliest articles I’ve seen to give some orientation to what is involved in applying the new guidance for revenue recognition:
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Some background articles on the new Revenue Recognition rule – ASU 14-09Read More »
Some background articles on the new Revenue Recognition rule – ASU 14-09 Read More »
Ponder this:
what will a new revenue recognition standard accomplish to improve financial reporting? And at what cost?
Those are Tom Selling’s questions in his post, Revenue Recognition Sure Isn’t Perfect – But Convergence will be much Worse.
What cost?
As to the cost question, I expect it would be very high. The disruption to preparers, confusion for report users, and increased time for auditors would be big.
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Prof. William F. O’Brien, CPA, has a great survey of the major accounting issues in our future and some suggestions on how to absorb the change that is on the way. His article, Surf’s Up! Wave of Financial Reporting is Coming, is in the January/February edition of California CPA magazine.
Major issues he describes are:
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Survey of major accounting issues on the horizon Read More »
Journal of Accountancy has started a five-part interview with FASB Chairman Leslie Seidman discussing the revenue recognition exposure draft. First part can be found here.
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Article from CFO magazine, One Size Gives Fits to All addresses the exposure draft on revenue recognition. As expected, pushback against the exposure draft is building. See my post for a bit of background on the draft. …
Pushback on Revenue recognition draft – topic 605Read More »
Pushback on Revenue recognition draft – topic 605 Read More »
FASB has an exposure draft out on revenue recognition. This post is a ‘heads up’, not an overall summary. This will be a fairly substantive rule, so if you haven’t heard about it, might be good to take a look. The document has a great summary on the first five pages of the introduction. …
Revenue Recognition exposure draft – Topic 605 Read More »