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Author: Scott A. Taub Publisher: Cch ISBN: 9780808047056 Category : Business & Economics Languages : en Pages :
Book Description
Completely rewritten for 2017, Revenue Recognition Guide is a comprehensive reference manual that addresses authoritative literature on revenue recognition that must be adopted by public companies by 2018. Revenue Recognition Guide clarifies concepts and principles, and provides insight into issues that have been addressed as the accounting profession prepares to adopt the new guidance.
Author: Scott A. Taub Publisher: Cch ISBN: 9780808047056 Category : Business & Economics Languages : en Pages :
Book Description
Completely rewritten for 2017, Revenue Recognition Guide is a comprehensive reference manual that addresses authoritative literature on revenue recognition that must be adopted by public companies by 2018. Revenue Recognition Guide clarifies concepts and principles, and provides insight into issues that have been addressed as the accounting profession prepares to adopt the new guidance.
Author: Scott A. Taub CPA Publisher: CCH Incorporated ISBN: 9780808041290 Category : Languages : en Pages : 0
Book Description
Revenue is the top line in the income statement and one of the most important figures to both preparers and users of financial statements. It is also one of the most difficult numbers in the financial statements to get right. Revenue Recognition Guide is a comprehensive reference manual covering the key concepts and issues that arise in determining when and how to recognize revenue. It covers the litany of existing authoritative literature related to revenue recognition and clarifies those revenue recognition concepts that are vague. For issues not addressed in the accounting literature, this Guide provides suggested accounting treatments that are consistent with general revenue recognition concepts and principles. The Guide also provides examples of key points, includes excerpts from the financial statements of public companies, illustrating key concepts and judgments, and discusses revenue recognition projects on the agendas of the various accounting standard-setters. The 2016 Edition also includes a discussion of the new comprehensive standard on revenue recognition, ASU 2014-09, which will be effective in 2017 for public companies and 2018 for private companies. This new standard will replace almost all of the existing guidance on revenue recognition. Revenue Recognition Guide is organized into 13 chapters. Within these chapters, a number of Observations and Practice Pointers highlight key consequences of the accounting guidance and identifies issues to watch for when dealing with certain revenue transactions. SEC Registrant Alerts highlights issues that the SEC is particularly focused on, as well as additional guidance provided by the SEC beyond the guidance typically followed by non-public companies. To facilitate research, the text includes references to pertinent paragraphs of the authoritative literature addressing k
Author: AICPA Publisher: John Wiley & Sons ISBN: 1948306166 Category : Business & Economics Languages : en Pages : 584
Book Description
Considered the industry's standard resource, this guide helps accountants and financial managers understand the complexities of the specialized accounting and regulatory requirements of the health care industry. Updated for 2018, this edition has been prepared and reviewed by industry experts and provides hands-on, practical guidance for those who work in and with health care entities. A critical resource for auditors, this edition includes new accounting standards and relevant GASB and FASB updates (including those related to private companies). Updates include: FASB ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) FASB ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10) Recognition and Measurement of Financial Assets and Financial Liabilities FASB ASU No. 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities SAS No. 133, Auditor Involvement With Exempt Offering Documents GASB Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions (and Certain Issues Related to OPEB Plan Reporting) GASB No. 83, Certain Asset Retirement Obligations
Author: AICPA Publisher: John Wiley & Sons ISBN: 194830600X Category : Business & Economics Languages : en Pages : 429
Book Description
An industry-specific accounting guide for brokers and dealers The Accounting Guide: Brokers and Dealers in Securities 2018 is provided by the American Institute of Certified Public Accountants. It details specialized accounting and regulatory requirements for the broker-dealer industry. Detailed chapters provide comprehensive examinations of timely subjects. For example, the chapter on the securities industry covers discount brokers, investment bankers, government securities dealers, clearing brokers, and other professions. Additional chapters cover: regulatory consideration, internal control, accounting standards, and financial statement considerations. Broker-dealers gain guidance in financial statement preparation while following the best practices and accounting principles outlined.
Author: Ambalika Singh Publisher: Independently Published ISBN: 9781797702827 Category : Business & Economics Languages : en Pages : 202
Book Description
The New Revenue Recognition Standard is a joint bold move made by both the FASB and the IASB to give top-lines of companies, across industries, a common denominator. It is a move from the fair value measure of vendor-specific objective evidence ('VSOE') to measure revenue, to one which takes into account what consideration the entity really expects to be entitled to receive from a contract with a 'customer'. The new standard broadens the definition of revenue to include newer concepts like contract costs incurred for transferring a good/ service, material rights and gain and loss from the sale of non-financial assets. There is specific guidance around contract combinations and contract modifications. 'Transfer of control to a customer' is the axis of the new revenue recognition standard. As control usually transfers before risks and rewards usually do, entities may witness an acceleration in revenue recognition. Collaborative arrangements have come under the scanner as the collaborator may be acting as a 'customer'. ASU 2018-18 issued in November 2018 removes the bias that amidst a risk and benefits sharing atmosphere of a collaborative arrangement, control of an output of an ordinary activity of one collaborator could be transferred to another collaborator for a consideration. Distinct goods/ services are now determined based on whether they are both individually distinct and are distinct within the context of the contract. Individually distinct goods/ services are now determined based on the characteristics of the goods or services themselves, instead of the way in which the customer may use the goods or services. VSOE rules are past tense and a good/ service may be distinct even if VSOE could not be established earlier. This may lead an increase or decrease in performance obligations, leading to difference in timing of revenue recognition. Increased judgement is needed for demarcating between a sale/ lease/ financing, in estimating variable consideration after applying constraints and in the capitalization and amortization of contract costs-especially in case of a principal versus agent situation. More disclosures are required. Provision for loss on contracts may apply to entities as ASC 606 amends ASC 605 for those paragraphs instead of superseding them. The position under IFRS is different as with the superseding of IAS 11 Construction contracts, the non-onerous provision for loss on construction contracts has been done away with. ASU 2017-01 and ASU 2017-05 narrowing the definition of 'business' and defining an 'In Substance Nonfinancial asset', respectively, impact the new revenue recognition standard from the point of view of a sale of non-financial assets to a customer- where the interest in an entity does not fall under the new definition of business but within the definition of essentially a non-financial asset. IFRS 3 has also been amended for a new definition of business and that does bring US GAAP and IFRS closer. The new standard interacts with the new leases standard and there may be a pit stop at ASC 606 before an entity transitions to the new leases standard. This book brings you the impacts from an exotic mix of industries as varied as aerospace and defense, engineering, media and entertainment, airlines, pharmaceuticals, health care, early-stage life sciences, software, construction and real estate, retail and e-commerce, hospitality, telecommunications, shipping, automotive, outsourcing and investment companies and promises deep learning. The new revenue recognition standard affects more than just revenue and impacts the business processes and results in dual SOX testing during the transition phase. With all the shuffling around the timing of payments being linked to the satisfaction of performance obligations, managements should properly assess their normal operating cycles and working capital. With sufficient discussions and training, all managements will be able to do the 'heavy lifting'.
Author: AICPA Publisher: John Wiley & Sons ISBN: 1948306670 Category : Business & Economics Languages : en Pages : 421
Book Description
It is critical to understand the complexities of the specialized accounting and regulatory requirements needed for the broker-dealer industry. This comprehensive guide has been designed to be beneficial for a wide range of professionals within the broker-dealer industry. Updates to this edition are to conform the content to current accounting standards and regulatory requirements. The updates include: SEC Release No. 34-86073, Amendment to Single Issuer Exemption for Broker-Dealers; ASU No. 2018-09, Codification Improvements; and, SEC Release Nos. 33-10532; 34-83875; IC-33203, Disclosure Update and Simplification. In addition, this edition features a new example disclosure note for revenue from contracts with customers, which has been added to the guide's illustrative financial statements and footnote disclosures.
Author: Gerardus Blokdyk Publisher: Createspace Independent Publishing Platform ISBN: 9781717470539 Category : Languages : en Pages : 140
Book Description
How to deal with Revenue recognition Changes? How likely is the current Revenue recognition plan to come in on schedule or on budget? Which customers cant participate in our Revenue recognition domain because they lack skills, wealth, or convenient access to existing solutions? How will we insure seamless interoperability of Revenue recognition moving forward? Can Management personnel recognize the monetary benefit of Revenue recognition? Defining, designing, creating, and implementing a process to solve a challenge or meet an objective is the most valuable role... In EVERY group, company, organization and department. Unless you are talking a one-time, single-use project, there should be a process. Whether that process is managed and implemented by humans, AI, or a combination of the two, it needs to be designed by someone with a complex enough perspective to ask the right questions. Someone capable of asking the right questions and step back and say, 'What are we really trying to accomplish here? And is there a different way to look at it?' This Self-Assessment empowers people to do just that - whether their title is entrepreneur, manager, consultant, (Vice-)President, CxO etc... - they are the people who rule the future. They are the person who asks the right questions to make Revenue recognition investments work better. This Revenue recognition All-Inclusive Self-Assessment enables You to be that person. All the tools you need to an in-depth Revenue recognition Self-Assessment. Featuring 712 new and updated case-based questions, organized into seven core areas of process design, this Self-Assessment will help you identify areas in which Revenue recognition improvements can be made. In using the questions you will be better able to: - diagnose Revenue recognition projects, initiatives, organizations, businesses and processes using accepted diagnostic standards and practices - implement evidence-based best practice strategies aligned with overall goals - integrate recent advances in Revenue recognition and process design strategies into practice according to best practice guidelines Using a Self-Assessment tool known as the Revenue recognition Scorecard, you will develop a clear picture of which Revenue recognition areas need attention. Your purchase includes access details to the Revenue recognition self-assessment dashboard download which gives you your dynamically prioritized projects-ready tool and shows your organization exactly what to do next. Your exclusive instant access details can be found in your book.
Author: Gerardus Blokdyk Publisher: 5starcooks ISBN: 9780655913177 Category : Business & Economics Languages : en Pages : 310
Book Description
Do you have active lines on your contract? What is revenue recognition concept? How many years has your organization been in business? What are information system audits? Do you have lines on your contract? This powerful Revenue Recognition self-assessment will make you the reliable Revenue Recognition domain expert by revealing just what you need to know to be fluent and ready for any Revenue Recognition challenge. How do I reduce the effort in the Revenue Recognition work to be done to get problems solved? How can I ensure that plans of action include every Revenue Recognition task and that every Revenue Recognition outcome is in place? How will I save time investigating strategic and tactical options and ensuring Revenue Recognition costs are low? How can I deliver tailored Revenue Recognition advice instantly with structured going-forward plans? There's no better guide through these mind-expanding questions than acclaimed best-selling author Gerard Blokdyk. Blokdyk ensures all Revenue Recognition essentials are covered, from every angle: the Revenue Recognition self-assessment shows succinctly and clearly that what needs to be clarified to organize the required activities and processes so that Revenue Recognition outcomes are achieved. Contains extensive criteria grounded in past and current successful projects and activities by experienced Revenue Recognition practitioners. Their mastery, combined with the easy elegance of the self-assessment, provides its superior value to you in knowing how to ensure the outcome of any efforts in Revenue Recognition are maximized with professional results. Your purchase includes access details to the Revenue Recognition self-assessment dashboard download which gives you your dynamically prioritized projects-ready tool and shows you exactly what to do next. Your exclusive instant access details can be found in your book. You will receive the following contents with New and Updated specific criteria: - The latest quick edition of the book in PDF - The latest complete edition of the book in PDF, which criteria correspond to the criteria in... - The Self-Assessment Excel Dashboard - Example pre-filled Self-Assessment Excel Dashboard to get familiar with results generation - In-depth and specific Revenue Recognition Checklists - Project management checklists and templates to assist with implementation INCLUDES LIFETIME SELF ASSESSMENT UPDATES Every self assessment comes with Lifetime Updates and Lifetime Free Updated Books. Lifetime Updates is an industry-first feature which allows you to receive verified self assessment updates, ensuring you always have the most accurate information at your fingertips.
Author: Scott A. Taub
Author: Scott A. Taub
Author: Scott A. Taub CPA
Author: Ashwinpaul C. Sondhi
Author: AICPA
Author: Scott A. Taub
Author: AICPA
Author: Ambalika Singh
Author: AICPA
Author: Gerardus Blokdyk
Author: Gerardus Blokdyk