Learn the two GAAP criteria for revenue recognition and how companies can accurately report on their financial statements ...

A business that uses the accrual basis of accounting recognizes revenue and expenses in the accounting period in which they are earned or incurred, regardless of when payment occurs. This differs from ...

The Financial Accounting Standards Board and the International Accounting Standards Board have jointly published a draft standard to improve and align the financial reporting of revenue from contracts ...

After a dozen years of collaboration and controversy, the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) finally have agreed on how and when companies ...

Any small business that publishes financial statements must prepare those statements in accordance with generally accepted accounting principles, or GAAP. GAAP includes accounting principles and ...

With 18 months remaining until all companies are required to report revenue following hundreds of pages of new accounting guidance, accounting leaders are a little stumped on why companies aren’t ...

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) for public business entities, certain not ...

Statement of Position (SOP) 97-2 provides guidance on applying GAAP in recognizing revenue from software and software-related transactions. The SOP provides instruction on recognition for licensing, ...

Changes to principal vs. agent guidance are on track for final approval as FASB and the International Accounting Standards Board (IASB) amend the converged revenue recognition standard that they ...

When you glance at a company’s income statement, you see its revenues and expenses neatly listed, culminating in that all-important net profit figure. But have you ever stopped to wonder when those ...

A new revenue recognition standard could soon create accounting murkiness for contractors and engineers, potentially changing the way some firms do business. The International Accounting Standards ...