The American Institute of CPAs’ Financial Reporting Executive Committee is asking for feedback on three new working drafts of guidance for broker-dealers and depository and lending institutions on the Financial Accounting Standards Board’s revenue recognition standard.
The AICPA has set up 16 industry-specific task forces to help develop a new Accounting Guide on Revenue Recognition. It will provide advice and examples for applying the new revenue recognition standard across various industries and sectors. The final revenue recognition implementation issues will be included in the guide.
The AICPA is asking for feedback on the working drafts by Jan. 2, 2017.
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