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 ...

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 ...

Accrual method accounting separates revenue recognition from cash flow. That means a company records revenue in its books based on whether it has earned money, not whether it has actually received ...

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 ...

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. The accounting and finance industries have been abuzz with ...

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.

The Securities and Exchange Commission has released a staff accounting bulletin to conform its existing staff guidance to the new revenue recognition standard that takes effect for public companies at ...

Five years after the Financial Accounting Standards Board (FASB) first issued new revenue recognition rules, we finally get to see its impact on reported financials. The new standard was originally ...

AMID CONCERNS ABOUT IMPROPRIETIES, the SEC issued SAB 101, which provides guidance on recognizing, presenting and disclosing revenue in financial statements. The official implementation date is no ...

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 ...

Statement of Position (SOP) 97-2 provides guidance on applying GAAP in recognizing revenue from software and software-related transactions. The SOP provides instruction on recognition for licensing, ...