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Understanding Revenue Recognition: Changes to U.S. GAAP-AICPA Alert

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New Revenue Recognition guidance has finally been issued! This publication addresses key provisions of the new standard and how it may impact current practices in your company. By breaking down the new guidance in five essential steps, you will have a solid understanding of changes that will come your way as a result of the issuance of FASB ASU No. 2014-09.

This alert will help you understand criteria for recognizing revenue and related costs, as well as new disclosure requirements. It covers key concepts of the new standard, provides a comparison to existing FASB rules, and maps to the current standards to allow for an effective transition once the new rules become effective.

Includes:

  • A comprehensive summary of the provisions of the new standard
  • 5-step revenue recognition process under the new model
  • An understanding of the impact on current accounting and tax practices
  • A mapping tool with references from the current FASB Codification to the new standard
  • The AICPA Learning and Implementation Plan to assist users with successful implementation
  • A comparison of U.S. GAAP to IFRS

Updates:

  • FASB ASU No. 2014-09, Revenue from Contracts with Customers
  • IFRS 15, Revenue from Contracts with Customers

For more information, visit www.cpa2biz.com/revrec

eBook , 2014
Product# ARAREV14E
Availability: eBook Download
Regular:$45.00
AICPA Member:$35.00
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