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 ...

There are two dominant systems of accounting used by corporations around the world. In the U.S., companies use the generally accepted accounting principles, or GAAP, while international companies use ...

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 ...

In late March, SEC Chief Accountant, James Schnurr, delivered remarks before the 12th Annual Life Sciences Accounting and Reporting Congress. The remarks addressed the new revenue recognition standard ...

Changes to principal vs. agent guidance are on track for final approval as FASB and the International Accounting Standards Board (IASB) amend the converged revenue recognition standard that they ...

Securities and Exchange Commission chairman Paul Atkins issued a warning that the SEC might eliminate a rule that allows multinational companies to present their financial statements in accordance ...

Two global frameworks: US GAAP is rules-based and used in the US, while IFRS is principles-based and applied in over 140 jurisdictions worldwide. Revenue recognition gaps: Both frameworks follow a ...

As digital business models multiply pricing structures and contract forms, revenue recognition has become one of the most complex disciplines for modern finance teams. This is especially true with ...