FREE Special Report!


In recent years, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have identified weaknesses and areas for improvement in the accounting for revenue under both GAAP and IFRS.

After years of deliberations regarding the appropriate treatment for revenue going forward, on May 28, 2014, the FASB issued a landmark revenue recognition standard, which establishes a principles-based approach for accounting for revenue from contracts with customers.

This complimentary special report provides an overview of the revised accounting model for revenue recognition, which applies to all entities regardless of their industry.

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Organized around the five steps for revenue recognition and measurement that are at the core of the new standard, GAAP Critical Issues Series – Revenue Recognition focuses on best practice compliance illustrated by industry-specific and situation-specific examples, with practice aids for heavily-impacted industries and detailed implementation guides for specific types of contracts. This unique resource makes extensive use of graphics to illustrate processes and concepts, and includes hundreds of expert observations, sample disclosures, and recognition and measurement examples.

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