In June 2010, the Financial Accounting Standards Board issued its Exposure Draft, Revenue from Contracts with Customers. If this Exposure Draft is adopted, it could have a negative impact on ...

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 ...

The Financial Accounting Standards Board released a staff educational paper Tuesday to answer questions about how to apply its revenue recognition standard to presentation and disclosures to ...

Despite a looming recession, recent job market reports have had good news for the construction industry. The American Institute of Architect’s AIA Consensus Construction forecast predicts construction ...

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 ...

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 ...

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 ...

Revenues on long-term construction contracts are exceptions to the general rule that revenues should be recorded once earned, meaning that these revenues can be recorded throughout the time periods of ...

What Is the Difference Between the Revenue Recognition Principle and the Expense Matching Principle? Understand the uses of these two core principles. The revenue recognition principle is a ...