Book description
Everything you need to understand and implement the new converged FASB-IASB revenue recognition standardWiley Revenue Recognition provides an overview of the new revenue recognition standard and instructs financial statement preparers step-by-step through the new model, providing numerous, helpful application examples along the way. Readers will grasp the many new disclosures that will be required through the use of detailed explanations and useful samples, while electronic tools will be available to aid the preparer in implementing the standards and making the proper disclosures.
The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) are in the final stages of a decade-long project to clarify and converge revenue recognition standards. This new principles-based standard—which will affect the business practices of virtually every company worldwide—is designed to serve as one model applied consistently across most industries. This book guides professionals through the new standard.
- Offers a full explanation of over forty topics superseded by the new standard
- Includes digital ancillaries featuring measurement tools and GAAP and IFRS Disclosure Checklists
- Provides all the tools needed to implement the new revenue recognition standard
- Covers how the structure of contracts will be affected
Wiley Revenue Recognition is a trusted, authoritative guide to the new FASB-IASB revenue recognition standard for CPAs and financial professionals worldwide.
Table of contents
- Cover
- Title Page
- Copyright
-
Executive Summary
- What Is Revenue?
- The New Revenue Standard
- Development of Revenue Guidance
- The Revenue Recognition Project
- Scope
- Effective Dates
- Implementation Options
- Objective of the Standard
- Core Principle and the Five Steps of the Revenue Recognition Model
- Disclosures Required by the Standard
- Disclosures Required for a New Standard
- Other Changes Included in the Standard
- SEC Response
- Industry-Specific Guidance Superseded
- AICPA Industry Committees
- Changes to Industry-Specific Guidance
- Transition Resource Group
- Appendix: Status of Issues Brought to the Boards
- Chapter 1: Step 1—Identify the Contract with the Customer
- Chapter 2: Step 2—Identify the Performance Obligations
- Chapter 3: Step 3—Determine the Transaction Price
- Chapter 4: Step 4—Allocate the Transaction Price
- Chapter 5: Step 5—Recognize Revenue When (or as) The Entity Satisfies a Performance Obligation
- Chapter 6: Other Issues
- Chapter 7: Contract Costs
- Chapter 8: Presentation and Disclosure
- Chapter 9: Implementation Issues
- About the Companion Website
- Index
- End User License Agreement
Product information
- Title: Wiley Revenue Recognition plus Website
- Author(s):
- Release date: February 2017
- Publisher(s): Wiley
- ISBN: 9781118776858
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