The American Institute of CPAs has issued a new audit and accounting guide on the revenue recognition standard.

The online edition of the AICPA’s Audit & Accounting Guide on Revenue Recognition aims to help entities and auditors understand, implement and audit the converged standard released in 2014 by the Financial Accounting Standards Board and the International Accounting Standards Board. Public companies will need to start applying the standard to annual reporting periods beginning after Dec. 15, 2017, and private companies a year later.

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