Accrual method accounting separates revenue recognition from cash flow. That means a company records revenue in its books based on whether it has earned money, not whether it has actually received ...

The Internal Revenue Service has released a new revenue procedure that provides a new automatic way that companies can use when changing their accounting method to conform to the Financial Accounting ...

The IRS is asking for comments on proposed procedures for requesting consent to make accounting method changes to reflect FASB’s new revenue recognition standards (Notice 2017-17). The proposed ...

Prepaid cards and several other payable-based consumer products are popular retail items and marketing tools. Portions of the proposed revenue recognition standard that FASB is working on will affect ...

The Internal Revenue Service is proposing procedures for how a taxpayer can ask for automatic consent to change an accounting method in preparation for the Financial Accounting Standards Board’s new ...

On May 28, 2014, FASB and IASB jointly announced new financial accounting standards for revenue recognition, titled “Revenue from Contracts with Customers (Topic 606).” For publicly-traded entities, ...

I recently wrote a blog on considerations for MD&A disclosures on adoption of the new revenue recognition standard. After learning a few Form 10-Qs had been filed by early adopters, I took a look to ...

While everyone is focusing on tax reform, a topic that should not be overlooked is the financial statement impact of the new revenue recognition standard ASC 606 Revenue from Contracts with Customers.

Opinions expressed by Entrepreneur contributors are their own. Like businesses in most industries, the new revenue recognition rules put forth by the Financial Accounting Standards Board (FASB) — and ...

YIT Corporation Stock Exchange Release March 6, 2026, at 8:30 a.m. YIT adopts percentage of completion revenue recognition method in segment reporting and publishes comparison financial information ...

Revenue recognition has always represented a challenge for the construction sector. This basic accounting principle defines the how and when a business addresses income it earns through contracted ...