Wiley Revenue Recognition: Understanding and Implementing the New Standard

ISBN-13: 9781118776858 / Angielski / Miękka / 2017 / 240 str.

Joanne Flood

Opis

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• Offers a full explanation of over forty topics superseded by the new standard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.

Spis treści

Executive Summary 1

1 Step 1 Identify the Contract with the Customer 27

2 Step 2 Identify the Performance Obligations 45

3 Step 3 Determine the Transaction Price 59

4 Step 4 Allocate the Transaction Price 85

5 Step 5 Recognize 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

O autorze

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.

Blurb

Everything you need to understand and implement the new, converged FASB–IASB revenue recognition standard

The Financial Accounting Standards Board (FASB), and the International Accounting Standards Board (IASB) have completed a decade–long project to clarify and converge their revenue recognition standards. The new, unified, principles–based standard will serve as one model, applied consistently across most industries worldwide. Wiley Revenue Recognition begins with an executive overview of the new standard and then walks you, step–by–step, through the new model, providing detailed explanations, graphic aids, and numerous application examples along the way. It also supplies:

• A list of the more than 200 separate FASB items and IASB standards and interpretations superseded by the new standard
• Exclusive access to a website with digital ancillaries, featuring the latest technical developments, useful implementation tools, and GAAP and IFRS Disclosure Checklists
• All the information, tips, and practice aids needed to implement the new revenue recognition standard
• In–depth coverage of how companies should plan for implementation

Wiley Revenue Recognition is a trusted, authoritative guide to the new FASB–IASB revenue recognition standard for CPAs and financial professionals, worldwide.

www.wiley.com/go/revenuerecognition