Revenue recognition

The staff paper aims to help private company franchises implement the new accounting standard by offering them practical examples.

The vast majority of S&P 500 issuers are using the modified retrospective method of adopting the new rules.

Last month a very strange thing happened.

In Larry Culp’s first earnings day as CEO, the company revealed an expanded federal probe into its accounting.

The underlying challenges are becoming more apparent in comment letters from the Securities and Exchange Commission.

The new revenue recognition standard doesn’t only affect publicly traded corporations and large privately held companies. It could have an impact on small businesses, particularly if they hope to obtain bank loans next year.

FloQast, a provider of close management software, is eyeing the problems with the new revenue recognition standard, especially for privately held technology companies like itself.

The new capability helps organizations maintain dual reporting on revenue and expenses allocated according to two sets of rules until Jan. 1.

PwC surveyed how public and private companies are handling the revenue recognition standard.

Compliance hours and costs for the Sarbanes-Oxley Act have risen in the past year for many companies, in part due to the new revenue recognition standard, according to a new survey.