Surprise! On April 8 th, FASB delayed for one year the implementation of the new ASC 606 revenue recognition standards for private companies,[1] citing the coronavirus pandemic. In addition to ...

This past Monday, November 5, 2018, the Financial Accounting Standards Board (“FASB”) published much-sought after guidance regarding the recognition of franchise fees under Accounting Standard ...

The Financial Accounting Standards Board released a post-implementation review Monday of its revenue recognition standard, reflecting on the benefits and costs of the wide-ranging standard a decade ...

The revenue recognition standard that takes effect in December for public companies could pose challenges for technology businesses, particularly those relying on traditional subscription licenses, ...

FASB voted Wednesday to add a project to its technical agenda to propose delaying the effective dates of its standards on revenue recognition and lease accounting for certain entities because of ...

After going into effect for public companies this fiscal year, Accounting Standards Codification 606 will apply to private companies come January. The Financial Accounting Standards Board amendment, ...

Public companies have less than five months to get up to speed with a new way of reporting revenue. On Jan. 1, ASC Topic 606, Revenue from Contracts with Customers, takes effect for publicly traded ...

The SEC has issued a staff accounting bulletin to bring its existing guidance into conformity with FASB’s new revenue recognition standard. Staff Accounting Bulletin (SAB) No. 116 modifies ...

While everyone is focusing on tax reform, a topic that should not be overlooked is the financial statement impact of the new revenue recognition standard ASC 606 Revenue from Contracts with Customers.

Revenue recognition has always represented a challenge for the construction sector. This basic accounting principle defines the how and when a business addresses income it earns through contracted ...