Revenue recognition

The Financial Accounting Standards Board released an accounting standards update Thursday, with guidance on accounting for revenue contracts with customers acquired in a business combination.

Chargebee, a subscription billing and revenue management software company, has bought RevLock, a revenue recognition software developer.

The commission said the sports apparel company booked revenues earlier than it should have because it was at risk of missing analyst estimates.

Trullion's software uses artificial intelligence to read unstructured data and translate it into real-time financial reports.

The Financial Accounting Standards Board released an accounting standards update Thursday, giving franchisors a practical expedient way to determine their performance obligations under a franchise agreement.

The Securities and Exchange Commission has been launching enforcement actions against various types of financial fraud schemes, with improper revenue recognition seen as the most common type of fraud, according to a new analysis.

The Financial Accounting Standards Board is offering a practical expedient to the current revenue recognition rules for franchise businesses.

The Financial Accounting Standards Board released an accounting standards update providing a one-year effective date delay for private companies and organizations to apply the revenue recognition and leases standards due to COVID-19, although they still have the option to apply the standards early.

The board voted Wednesday to give private companies and not-for-profit organizations an extra year to comply with the revenue recognition and leases standards.

The proposal would delay the effective date for one year for some private companies and nonprofits in applying the leases standard and for franchisor businesses in applying the revenue recognition standard.