The American Institute of CPAs’ Financial Reporting Executive Committee has issued new working drafts on how the new revenue recognition rules will affect certain industries, including airlines and gaming.

Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers, will replace the current rev rec guidance for specific transactions and industries with a principle-based approach that has the potential to significantly affect a wide range of entities.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access