Tag Archive | RevRec

Revenue Recognition Considerations for the Manufacturing Industry

All entities will have to reevaluate their revenue recognition processes when the Financial Accounting Standard Board (FASB)’s Accounting Standard Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606) is adopted, beginning with those early adopting in 2017. Manufacturing companies face unique considerations with the new revenue recognition guidance. They should consider how the following […]

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Webinar on 9/8: Revenue Recognition Updates for Manufacturers

While the new standard for revenue recognition will require significant changes in internal accounting practices for any industry with contract revenue, this webinar will specifically address the impact to the manufacturing industry. During this webinar, we will discuss the latest information about the new revenue recognition guidance. We will also go over how the new […]

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Webinar on 5/7: Not-for-Profit Update – Internal Controls, Accounting Standards and Grant Reform

Join us for this course that will provide an update regarding COSO’s 2013 Internal Control Integrated Framework and its likely impact on a nonprofit organization’s audit as well as an update on proposed accounting standards and regulatory changes that most commonly impact not-for-profit and educational organizations. Some of the proposed changes we will review include: Proposed […]

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Proposed Delay in Revenue Recognition Implementation

On April 1, the FASB proposed pushing back the effective date of the new revenue recognition standard by one year. The expected adoption of the proposal will cause Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers to be effective for annual reporting periods and interim reporting periods within annual periods beginning after […]

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Webinar on 4/29: Not-for-Profit Update – Internal Controls, Accounting Standards and Grant Reform

Join us for this course that will provide an update regarding COSO’s 2013 Internal Control Integrated Framework and its likely impact on a nonprofit organization’s audit as well as an update on proposed accounting standards and regulatory changes that most commonly impact not-for-profit and educational organizations. Some of the proposed changes we will review include: Proposed […]

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2015 First Quarter Accounting Update

If the first quarter of 2015 is any indication, public and private entities will need to start preparing now for 2016 and 2017. The Financial Accounting Standards Board (FASB) released three recent accounting standards updates that have effective dates beginning on or after December 15, 2015. Additionally, further guidance is expected for fair value measurement, […]

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Revenue Recognition Step 3 – Determine the Transaction Price

The third step in the new revenue recognition guidance represents the halfway point within the five-step model to determining when, and how much, revenue to recognize. The process of determining the transaction price, which is done for the contract as a whole, will continue to require the thoughtful application of principles that we noted in […]

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