Revenue Recognition. Renee Rampulla

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Название: Revenue Recognition

Автор: Renee Rampulla

Издательство: John Wiley & Sons Limited

Жанр: Бухучет, налогообложение, аудит

Серия:

isbn: 9781119763925

isbn: 0

Аннотация:

For years, revenue recognition has been the cause of audit failures and the focus of corporate abuse and fraud allegations. Today, there is FASB ASC 606, a new standard which is critical to understand before it can be successfully implemented. Supported by practical examples, industry specific real-life scenarios, and more than a dozen exercises, this work will assist you in avoiding revenue recognition traps and provide you with the latest FASB guidance. You will gain an in-depth understanding of the revenue recognition framework that is built around the core principles of this new five-step process. In addition, you will gain a better understanding of the changes in disclosure requirements. Key topics covered include: Background, purpose, and main provisions of new standard (FASB ASC 606) Transition guidance Five-step process for recognizing revenue Disclosure requirements Implementation guidance – contracts, tax matters, internal controls, IT