Accrued revenue occurs when a company has earned revenue but hasn't billed a client for payment. To record accrued revenue, the company accountant debits accrued billings and credits revenue for the ...

The AICPA Financial Reporting Executive Committee (FinREC) issued for informal comment Monday nine working drafts that discuss accounting issues related to the implementation of the new revenue ...

Thomson Reuters has issued PPC’s Guide to Revenue Recognition, a new publication providing guidance to accountants and their clients on the Financial Accounting Standards Board’s new revenue ...

The warnings are everywhere—it’s time to get serious about revenue recognition. The new standard is expected to result in significant changes to measuring, recognizing and reporting of ...

Identifying and assessing the risks of material misstatement due to fraud are among the most challenging aspects of auditing in recent years, according to outreach conducted by the AICPA Auditing ...

The new revenue recognition standards under GAAP (Accounting Standards Update 2014-09; Topic 606) will be applicable to public companies for annual reporting periods beginning after December 15, 2017.

Another major issue in revenue accounting is when to recognize or record the revenue. A common practice is to record the revenue when we receive payment (cash) from the customer. This is referred to ...

Revenue recognition standards determine both how much and when revenue is recognized on the income statement. Any company keeping their financial statements under generally accepted accounting ...

Two accounting boards are working toward a common set of procedures for recognizing revenue. The international financial reporting standards, or IFRS, are the International Accounting Standards ...

DUBLIN, Dec. 24, 2019 /PRNewswire/ -- The "Revenue Recognition Accounting Update 2020 (ASC 606)" conference has been added to ResearchAndMarkets.com's offering. The new Revenue Recognition Standard ...

The revenue recognition standard that takes effect next year could help health care providers and regulators identify instances of Medicare and Medicaid fraud by subjecting their financial statements ...

Q3 2025 Management View Heidy Kingwan Chow, CFO, emphasized ongoing progress in both the stablecoin project and gaming ...