Accrued revenue occurs when a company has earned revenue but hasn't billed a client for payment. To record accrued revenue, the company accountant debits accrued billings and credits revenue for the ...

The AICPA Financial Reporting Executive Committee (FinREC) issued for informal comment Monday nine working drafts that discuss accounting issues related to the implementation of the new revenue ...

Compliance: Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS) require the use of accrual accounting for most companies, especially those that are ...

Another major issue in revenue accounting is when to recognize or record the revenue. A common practice is to record the revenue when we receive payment (cash) from the customer. This is referred to ...

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 ...

DUBLIN, Dec. 24, 2019 /PRNewswire/ -- The "Revenue Recognition Accounting Update 2020 (ASC 606)" conference has been added to ResearchAndMarkets.com's offering. The new Revenue Recognition Standard ...

Five years after the Financial Accounting Standards Board (FASB) first issued new revenue recognition rules, we finally get to see its impact on reported financials. The new standard was originally ...

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 ...