While the primary goal of every business owner is to increase revenues, the goal of the company's accountant is to ensure that the revenues are recognized, or recorded on the company's books in the ...

Another major issue in revenue accounting is when to recognize or record the revenue. A common practice is to record the revenue when we receive payment (cash) from the customer. This is referred to ...

All companies track and report revenue. Organizations worldwide will need to start complying with new regulations for revenue accounting that have been approved by the FASB and the IASB. This will be ...

Are you ready for revenue recognition? The clock's ticking and Brian Sommer provides you with an analysis of the things you need to know New revenue recognition accounting rules come into effect on ...

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 ...

In 2016, the Financial Accounting Standards Board (FASB) released a new standard, ASC 606 - Revenue from Contracts with Customers. The new standard is effective for Dec. 31, 2019, financial statements ...

The new revenue recognition standards issued jointly by the Financial Accounting Standards Board and the International Accounting Standards Board have been a long time in the making, and merging U.S.

The depth and breadth of FASB’s enormously consequential revenue recognition standard presented challenges to auditors as well as those who prepare financial statements. Feedback from peer reviewers ...

FASB issued an update Wednesday that delayed the effective dates of its revenue recognition and lease accounting standards for certain entities in response to the coronavirus pandemic. The board ...

In a recent webinar poll 1, approximately 5,400 participants spanning multiple industries and at varying job levels responded to questions on implementation readiness, anticipated challenges, and how ...

With the deadline looming for private companies to comply with the new revenue recognition standard, many companies are still in the assessment stage and have yet to start the actual implementation ...