Everything you need to understand and implement the new
converged FASB-IASB revenue recognition standard
Wiley 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* Offers a full explanation of over forty topics superseded by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.
Autorentext
JOANNE M. FLOOD, CPA-NY, has 20 years' experience at the AICPA, managing, developing, and writing accounting and auditing training. She pioneered the AICPA's e-learning product line and developed the AICPA online IFRS Certificate Program. She has also had accounting experience at major corporate clients in retail, manufacturing, and finance, and at small business clients in construction, manufacturing, and professional services. She is the author of Wiley GAAP, Wiley GAAS, and Wiley Financial Statement Disclosure Checklist.
Zusammenfassung
Everything you need to understand and implement the new converged FASB-IASB revenue recognition standard
Wiley 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 standardwhich will affect the business practices of virtually every company worldwideis 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.
Inhalt
Executive Summary 1
1 Step 1Identify the Contract with the Customer 27
2 Step 2Identify the Performance Obligations 45
3 Step 3Determine the Transaction Price 59
4 Step 4Allocate the Transaction Price 85
5 Step 5Recognize Revenue When (Or As) the Entity Satisfies a Performance Obligation 101
6 Other Issues 123
7 Contract Costs 159
8 Presentation and Disclosure 169
9 Implementation Issues 191
About the Companion Website 203
Index 205