Category: Technical accounting
Beyond rev rec—planning ahead for 2018 financial reporting
I get it—implementing the new revenue recognition rules has consumed a lot of your technical accounting team’s time, as it has at my company. The new standard likely has a steady spot at the forefront of your audit com…
See MoreHow to amp up your year-end disclosures for the revenue accounting changes ahead
It’s always healthy to take a fresh look at your disclosures and discussions in your annual reports. Situations change, boilerplate language doesn’t always cut it, and changes in accounting policies make it a necessity…
See MoreRethinking revenue and realizing opportunities in the new rules
It’s game time. Deals your company is making now could be affected by the new revenue recognition standard, and the effective date will be here before you know it. This is why it is so important for finance organizations…
See MoreConquer complexity: Get briefed on the latest accounting updates
In the accounting world, the rules are ever changing. Large in scope and long awaited, the new rule for recognizing revenue continues to get clarifications in the months leading up to its effective date. The new leasing st…
See MoreAn executive briefing: Demystifying the latest accounting rules and what you need to think about
A flurry of effective dates, interpretive guidance and new rules—companies are processing a lot of information coming their way from the Financial Accounting Standards Board and the Securities and Exchange Commission. So…
See MoreWhat CFOs need to know about the new leasing standard
One loud giant thud is the sound you’d hear if you printed out all 485 pages of the new lease accounting standard and threw it on your desk. Multiple giant thuds. That’s what we’ll all be hearing when trillions of do…
See MoreGet ready: FASB is dumping some big items on your to-do list
The Financial Accounting Standards Board has a bunch of resolutions that affect many companies. The board is offloading some of their weightier projects that have taken up a lot of time (several years!) on their docket. Fo…
See MorePutting the E in “revenue”: A big challenge of the new rev rec standard
Accounting professionals who have been involved with revenue for many years can recite the four criteria for revenue recognition as quickly as they can their children’s names—it just becomes second nature. For people l…
See MoreComing up with a game plan for revenue recognition
Consider taking the new revenue recognition rules out for a spin. It could be a short test drive, with just a sample of current contracts sitting in the passenger seat so you can see how the changes feel and how drastic th…
See MoreIt was high time the FASB eliminated ‘extraordinary items,’ and they finally did
Companies will no longer have to call out extraordinary items on the income statement following the Financial Accounting Standards Board’s recent issuance of an accounting standards update. This change, which affects tra…
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