The American Institute of CPAs has been producing guidance for how different industries can deal with the new revenue recognition standard that will be taking effect at the end of the year, along with ...

A business that uses the accrual basis of accounting recognizes revenue and expenses in the accounting period in which they are earned or incurred, regardless of when payment occurs. This differs from ...

As preparers work on implementing a new revenue recognition standard, the SEC is eager to see companies achieve consistency and comparability in the future once transition is complete. The new ...

The Financial Accounting Standards Board and the International Accounting Standards Board have jointly published a draft standard to improve and align the financial reporting of revenue from contracts ...

Lara Long, CPA, never would have imagined five years ago that she soon would be in a room with some of her company’s biggest competitors and broader industry peers, talking candidly and transparently ...

With 18 months remaining until all companies are required to report revenue following hundreds of pages of new accounting guidance, accounting leaders are a little stumped on why companies aren’t ...

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. There has been a lot of chatter regarding changes in ...

There are many industries where companies provide goods or services but aren’t immediately paid for them. From an accrual basis accounting standpoint, these represent accrued revenue for the company.

Revenue recognition has always represented a challenge for the construction sector. This basic accounting principle defines the how and when a business addresses income it earns through contracted ...

Fellow Irregulars Phil Wainewright and Jason Corsello are batting around the implementation services revenue recognition issue following Taleo's restatement of earnings. Phil uses it as a reason to ...

Any small business that publishes financial statements must prepare those statements in accordance with generally accepted accounting principles, or GAAP. GAAP includes accounting principles and ...