Revenue Recognition, Accounting and Auditing Considerations, 2016 (AICPA)

The AICPA develops standards for audits of private companies and other services by CPAs; provides educational guidance materials to its members; develops and grades the Uniform CPA Examination; and monitors and enforces compliance with the accounting profession's technical and ethical standards.The AICPA's founding established accountancy as a professio

2016-10FASB ASU No. 2014-09)FASB ASU No. 2016-12Who Will Benefit?Accountants and auditors who need to understand the latest guidance on revenue recognition. 2016-08FASB ASU No. New Expanded Edition Covers both Accounting and AuditingThis year's expanded edition addresses key concepts in revenue recognition from both an accounting and auditing perspective. Links to helpful online tools and resources are included.Key Benefits:Comprehensive coverage of the new framework, including accounting guidance, as well as audit considerationsKey provisions of Topic 6065-step implementation guidanceAn understanding of the impact on current accounting and tax practicesUpdates:Topic 606 (FASB ASU No. The past year's accounting updates are covered, as well as criteria for recognizing revenue and related costs, new disclosure requirements, and a comparison to existing FASB rules to allow for an effective transition once the new

About the AuthorFounded in 1887, the American Institute of Certified Public Accountants (AICPA) represents the CPA and accounting profession nationally and globally regarding rule-making and standard-setting, and serves as an advocate before legislative bodies, public interest groups and other professional organizations. The AICPA develops standards for audits of private companies and other services by CPAs; provides educational guidance materials to its members; develops and grades the Uniform CPA Examination; and monitors and enforces compliance with the accounting profession's technical and ethical standards.The AICPA's founding established accountancy as a profession distinguished by rigorous educational requirements, high professional standards, a strict code of professional ethics, a licensing status and a commitment to serving the public interest.