AICPA encourages private cos. to get ready for new rev rec standard
The deadline isn't far away for privately held businesses to begin adhering to the new rules.
View ArticleRevenue recognition standard forces changes at retailers
The new accounting rules and the explosion in online sales are prompting merchants to change the time at which e-commerce revenue is recognized.
View ArticleCompanies seeing higher costs from revenue recognition implementation
Most organizations are using manual workarounds to comply with the new rev rec standard, according to a survey by Ernst & Young.
View ArticleFASB proposes changes in accounting for deferred revenue in business...
The Financial Accounting Standards Board issued a proposed accounting standards update Thursday on the recognition and measurement of deferred revenue in business combinations.
View ArticleChargebee and Softrax partner on revenue recognition software for subscriptions
The companies are giving their customers access to both Chargebee’s subscription billing system and Softrax’s Revenue Manager revenue recognition software.
View ArticleMoviePass stumbles anew after restating subscriber revenue
MoviePass’s parent company hit another bump Tuesday, acknowledging it lost track of how many paying customers the film-subscription service had on its books.
View ArticleTurn ASC 606 into a transformation opportunity
You can look at the revenue recognition standard in one of two ways — a compliance burden, or an opportunity for finance leaders to emerge and change the game.
View ArticleSEC giving extra scrutiny to certain revenue recognition issues
The Securities and Exchange Commission is paying extra attention to the way public companies are adhering to the new rev rec standard.
View ArticleThe NRA uses creative accounting to post surge in revenue
The embattled National Rifle Association reported some good news this year: Revenue from membership dues jumped 33 percent last year to $170 million. But that picture may not be as rosy as those...
View ArticleHSBC key target prone to manipulation by managers, auditors said
HSBC Holdings Plc’s auditors cautioned top executives that pressure to meet earnings targets gave managers an incentive to massage their numbers.
View ArticleUnder Armour falls most since July as U.S. probes accounting
Under Armour Inc. shares plunged after the company disclosed that federal officials have been probing its accounting practices for more than two years, bringing a fresh headache to investors just as...
View ArticleAICPA proposes updates to audit and accounting guide for gaming industry
The changes mainly reflect application of the new lease accounting standard for casinos with wide area progressive slot machines.
View ArticleNew accounting standards seem to drive up audit costs
Auditing costs are going up for companies, in part due to new accounting standards for revenue recognition and leases, according to a new survey.
View ArticleIndependence trap: Helping clients with rev rec implementations
CPAs should be wary of these seven client requests around revenue recognition.
View ArticleAudit fees keep rising, thanks to new accounting standards
Average audit fees increased 4.25 percent from 2017 to 2018, according to a new report.
View ArticleFinancialForce CEO sees growth, with help from Salesforce
Tod Nielsen is looking back on a year of revenue growth and leveraging his company’s relationship with Salesforce to add more features to FinancialForce's accounting software and attract customers.
View ArticleFASB proposes to delay leases and rev rec standards due to coronavirus
The proposal would delay the effective date for one year for some private companies and nonprofits in applying the leases standard and for franchisor businesses in applying the revenue recognition...
View ArticleFASB delays rev rec and leases standards in response to coronavirus
The board voted Wednesday to give private companies and not-for-profit organizations an extra year to comply with the revenue recognition and leases standards.
View ArticleFASB defers revenue recognition and leases standards for private companies...
The Financial Accounting Standards Board released an accounting standards update providing a one-year effective date delay for private companies and organizations to apply the revenue recognition and...
View ArticleFASB proposes to simplify revenue recognition for franchisors
The Financial Accounting Standards Board is offering a practical expedient to the current revenue recognition rules for franchise businesses.
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