AICPA Issues 7 New Drafts on Revenue Recognition Questions

Compliance Week

October 4, 2016

Compliance Week reports that some of the trickiest questions yet in adopting the new revenue recognition standard are addressed in new drafts of proposed accounting guidance issued by a committee of the AICPA. In the story, Tammy Whitehouse reports that, “The AICPA’s task forces on software, telecommunications, asset management, and gaming have issued seven new working drafts to explain the consensus views among task force participants on how to address some of the most challenging aspects of the new standard.” She notes that the Institute’s Financial Reporting Executive Committee has published the new working drafts to seek public views through December 5.