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 ...

All transaction participants need to be on the same page when it comes to the accounting rules that are applied to the preparation of financial information. This article was published on June 22, 2017 ...

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 ...

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 ...

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 ...

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.

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 ...

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 ...