Download or read book Revenue Recognition Guide 2022 written by Scott A. Taub and published by . This book was released on 2021-08-17 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Revenue Recognition Guide is a comprehensive reference manual covering key concepts and issues that arise in determining when and how to recognize revenue. It covers the new authoritative literature related to revenue recognition that became effective in the past few years. Revenue Recognition Guide clarifies revenue recognition concepts and principles, and provides insight into issues that have been addressed as the accounting profession prepares to adopt the new revenue recognition literature.

Download or read book Revenue Recognition Guide 2013 written by Scott A Taub, CPA and published by CCH Incorporated. This book was released on 2012-10-13 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Revenue Recognition Guide written by Scott A Taub, CPA and published by CCH Incorporated. This book was released on 2011-10 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Revenue is the top line in the income statement and one of the most important figures to both preparers and users of financial statements, but it is also one of the most difficult numbers in the financial statements to get right. The "Guide" is a comprehensive reference manual covering the key concepts and issues that arise in determining when and how to recognize revenue. Pub. 10/11.

Download or read book Wiley s Level I CFA Program 11th Hour Final Review Study Guide 2022 written by Wiley and published by John Wiley & Sons. This book was released on 2021-12-09 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: A must-have resource for the weeks before the CFA exam – Level I Wiley's Level I CFA Program 11th Hour Final Review Study Guide 2022 is a concise distillation of the material covered on Level I of the Chartered Financial Analyst certification exams. Rather than act as a primary study tool, the book offers an efficient and effective way to review the concepts covered by the exam. The book covers: Ethical and professional standards Financial analysis tools, including quantitative methods, economics, and financial reporting and analysis Portfolio management and analysis, including corporate finance Assets, including equity investments, derivatives, fixed income, and alternative investments Perfect for any prospective CFA Level I exam taker seeking to improve their confidence walking into the test, Wiley's Level I CFA Program 11th Hour Final Review Study Guide 2022 is an indispensable resource for improving your retention and understanding of core concepts licensed CFAs use every day.

Download or read book Audit and Accounting Guide written by AICPA and published by John Wiley & Sons. This book was released on 2020-07-24 with total page 768 pages. Available in PDF, EPUB and Kindle. Book excerpt: From financial reporting to revenue recognition to grants and contracts to auditor report changes, you have a lot going on in the not-for-profit financial arena right now. Whether you're already an expert in NFP audit and accounting standards or just getting started, this is the practical guidance you need. This must-have resource for nonprofits accounting and auditing professionals is an essential reference that will assist you with the unique aspects of accounting and financial statement preparation and auditing for not-for-profit entities. It will help you with the following Understand and implement recent updates and changes, including those related to financial reporting, revenue recognition, and grants and contracts Gain a full understanding of the accounting issues unique to not-for-profit entities Assist in the implementation of auditor report changes.

Download or read book Wiley Practitioner s Guide to GAAS 2022 written by Joanne M. Flood and published by John Wiley & Sons. This book was released on 2022-03-29 with total page 1058 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most comprehensive and up-to-date guide to critical auditing standards, practices, and procedures for 2022 The American Institute of Certified Public Accountants (AICPA) sets the Generally Accepted Auditing Standards or GAAS under which U. S. audits are conducted in the United States. Auditors must comply with and understand every aspect of GAAS in order to comply with AICPA standards. As a result, it is crucial for CPAs to be up-to-date on all applicable guidelines, rules, and regulations. Wiley Practitioner's Guide to GAAS 2022 delivers a thorough description and analysis of not only auditing standards – SASs, but also SSAEs, SSARSs, and the Interpretations necessary to fully understand all the latest professional standards. The guide offers the most recent revisions to the standards, including those on: Materiality, Audit reports, ERISA audits, SSAE direct examination engagements, and Practitioner’s review reports. The Guide explains the standards clearly and accurately, providing explicit information on how to conduct your engagements efficiently, effectively, and properly—all in one resource. In addition, Wiley Practitioner's Guide to GAAS 2022 provides readers with: Practical direction on the steps necessary to help you comply with GAAS Comprehensive guidance on the entire auditing process, from start to finish Explanations of all attestation and review, compilation, and preparation standards A glossary of relevant terminology for each subject A crucial resource for accountants and auditors who are looking for a comprehensive explanation of the information used on a daily basis, Wiley Practitioner's Guide to GAAS 2022 is an invaluable resource written to save you time and simplify your compliance with professional standards.

Download or read book Wiley Practitioner s Guide to GAAP 2022 written by Joanne M. Flood and published by John Wiley & Sons. This book was released on 2022-03-01 with total page 2169 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most comprehensive guide to US GAAP—thoroughly updated to reflect the latest pronouncements US GAAP is constantly being updated, requiring its users to be armed with expert interpretation and explanation of the relevant principles. Wiley GAAP 2022 provides the most complete coverage of all Financial Accounting Standards Board (FASB) Topics—including the latest updates. Each chapter includes discussion of perspectives and issues, sources of GAAP, practice-oriented examples, and accurate definitions of terms, concepts, and rules. Every FASB Topic is fully explained in a clear, reader-friendly way with dynamic graphic to aid in understanding complex topics. Extensively updated to reflect all current US GAAP changes, this indispensable book: Reviews the latest changes to accounting principles, including inventory, financial instruments, leases, debt, and goodwill Offers expert guidance on issues surrounding specific pronouncements Includes comprehensive cross-references and topic-specific appendices Explains how the standards apply to common real-world scenarios Clarifies implementation through numerous illustrations and practical examples Accurate and up-to-date GAAP implementation is crucial for eliminating the risk of noncompliance. Wiley GAAP 2022 is your one-stop resource for staying up-to-date with constantly-changing guidelines—providing the insight and guidance accounting professionals need.

Download or read book Wiley CMA Exam Review 2022 Study Guide Part 1 written by Wiley and published by John Wiley & Sons. This book was released on 2021-11-16 with total page 546 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prepare for success on the first part of the 2022 CMA exam with this essential study aid The Wiley CMA Exam Review 2022 Part 1 Study Guide: Financial Planning, Performance, and Analytics is a comprehensive and accurate handbook designed to help you identify and master each of the competencies covered by the first part of the 2022 Certified Management Accountant exam. It includes material on: External Financial Reporting Decisions Planning, Budgeting, and Forecasting Performance Management Cost Management Internal Controls Technology and Analytics Ideal for anyone preparing for the challenging CMA series of exams, the Wiley CMA Exam Review 2022 Part 1 Study Guide: Financial Planning, Performance, and Analytics is also a perfect companion resource for early-career management accountants seeking a refresher on foundational topics they’re likely to encounter regularly at work.

Download or read book Wiley s Level II CFA Program 11th Hour Final Review Study Guide 2022 written by Wiley and published by John Wiley & Sons. This book was released on 2021-12-09 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: Banish test anxiety before taking Level II of the CFA certification exam Wiley's Level II CFA Program 11th Hour Final Review Study Guide 2022 is a concise summary of the concepts covered on Level II of the CFA certification exams. Rather than act as a primary study tool, the book offers an effective and efficient way to review the subjects covered by the exam. The book covers: Ethical and professional standards Financial analysis tools, including quantitative methods, economics, and financial reporting and analysis Portfolio management and analysis, including corporate finance Assets, including equity investments, derivatives, fixed income, and alternative investments Perfect for any prospective CFA Level II exam taker seeking to improve their confidence with the test’s subject matter, Wiley's Level II CFA Program 11th Hour Final Review Study Guide 2022 is a must-have resource for improving your retention and understanding of core concepts licensed CFAs use every day.

Download or read book Revenue Recognition Guide 2021 written by Scott A Taub and published by . This book was released on 2020-08-31 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Revenue Recognition Guide is a comprehensive reference manual covering key concepts and issues that arise in determining when and how to recognize revenue. It covers the new authoritative literature related to revenue recognition that must be adopted beginning in 2020 for many companies. Revenue Recognition Guide clarifies revenue recognition concepts and principles, and provides insight into issues that have been addressed as the accounting profession prepares to adopt the new revenue recognition literature.

Download or read book Welcoming the New Revenue Recognition Standard written by C. A. Ambalika Singh and published by Independently Published. This book was released on 2018-06-17 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt: The New Revenue Recognition Standard is a joint bold move made by both the FASB and the IASB to give top-lines of companies, across industries, a common denominator. It is a ground-breaking shift from the fair value measure of vendor specific objective evidence ('VSOE') to measure revenue, to one which takes into account what consideration the entity really expects to be entitled to receive from the contract with a 'customer'. Collaborative arrangements would come under the scanner as the collaborator may not be acting as a 'customer'. Moreover, the terms 'client' and 'customer' would no longer be fungible.ASC 606 provides guidance that will apply to all entities, including non-public entities that previously did not have extensive guidance. IFRS differs in this respect as IFRS for Small and Medium-sized Entities is available for entities that do not have public accountability.The new standard broadens the definition of revenue to include newer concepts like costs to obtain and fulfil a contract, material rights and gain and loss from sale of non-financial assets. The revenue is recognised upon control transfer rather than on delivery/ transfer of risks and rewards and the standard introduces the concept of 'control transferred at a point in time' and 'control transferred over time'. The standard requires management to increase exercise of judgment and estimate variable consideration, after applying constraints. The hierarchy for estimating stand-alone selling prices has been done away with. Allocation of discounts and assessing collectability may undergo a change as the two would be analysed at the worm's eye view level of the performance obligation and not at the bird's eye view level of the contract. Early in 2017, we saw ASU 2017-01 and ASU 2017-05 narrowing the definition of 'business' and defining an 'In Substance Non financial asset', respectively. The new definition of business disqualifies a set as a business when all or substantially all of the fair value of the gross assets (acquired or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets- think early stage life sciences companies, real estate and shipping companies. Further the new definition of business requires an input and a substantive process that together significantly contribute to the ability to create output- all of which should be acquired and evaluation of whether a market participant is able to replace the missing elements has been done away with. Further cost savings would not qualify as an output, which would be aligned with outputs described in ASC 606. The overall assessment of a business however still continues to be done from a market participant's angle and the buyer's and seller's intentions do not affect the analysis- same as today, except that the requirement of assessing whether a market participant would be able to replace missing elements has been done away with. These two ASUs impact the new revenue recognition standard from the point of view of a sale of non-financial assets to a customer- where the interest in an entity does not fall under the new definition of business but within the definition of essentially a non-financial asset.The new revenue recognition standard affects more than just revenue and impacts the business processes and results in dual SOX testing during the transition phase. With sufficient training, discussion and planning, all managements will be able to do the 'heavy lifting'.

Download or read book Understanding Financial Reporting Standards A Non technical Guide written by Roger Hussey and published by World Scientific. This book was released on 2023-10-25 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: If you want to understand the regulations and practices of financial accounting and reporting, this is the book for you! The authors of this book have developed a unique set of material on corporate financial reporting based on their collective years of teaching experience. In this book, they explain, in non-technical language, the financial information that companies are required to provide.What are companies? Why are they formed? Companies are not charities but are formed to provide a good income to their shareholders by selling us goods and services. Large companies in the UK are mostly known as Public Limited Companies (PLCs). There are about 2,000 PLCs in the London Stock Exchange. But do we understand these companies' objectives and activities? We can do so by examining the financial information they provide publicly in their annual financial reports.To be able to examine the financial statements issued by companies, you need to understand the regulations issued by the International Accounting Standards Board (IASB). This book explains the requirements of Financial Reporting Standards. Guidance on the disclosure requirements and examples from companies' financial reports are also provided and explained. Many of these company names are synonymous with our everyday lives. Think about Cadbury Chocolate, Unilever, Diageo, Shell, Boots. It is difficult to conceive our lives without their products and services. The explanation and guidance provided in this book will allow you to understand fully the operations of such companies. This is vital knowledge if you intend to do business with the companies, buy their products and services or find employment with them.

Download or read book Audit and Accounting Guide Employee Benefit Plans written by AICPA and published by John Wiley & Sons. This book was released on 2016-11-21 with total page 864 pages. Available in PDF, EPUB and Kindle. Book excerpt: Considered the industry standard resource, this guide provides practical guidance, essential information and hands-on advice on the many aspects of accounting and authoritative auditing for employee benefit plans. This new 2016 edition is packed with information on new requirements — including the simplification of disclosure requirements for investments in certain entities that calculate net asset value per share (or its equivalent), the simplification of disclosures for fully benefit-responsive investment contracts, plan investment disclosures, and measurement date practical expedient, and a new employee stock ownership plans chapter that includes both accounting and auditing.

Download or read book Audit and Accounting Guide Property and Liability Insurance Entities 2018 written by AICPA and published by John Wiley & Sons. This book was released on 2019-01-14 with total page 688 pages. Available in PDF, EPUB and Kindle. Book excerpt: Get authoritative accounting and auditing guidance. Educate staff on the property and liability insurance industry, its products and regulatory issues, and the related transaction cycles an insurance entity is involved with. This guide contains updates on current GAAP and statutory accounting and audit guidance, as well as relevant guidance contained in standards issued through September 1, 2018 which have a major impact on insurance entities, including: FASB ASU No. 2016-01 and AICPA Q&A Section 7100.15: Insurance Companies and the Definition of Public Business Entity Revenue Recognition Implementation Issue: Considerations for Applying the Scope Exception in FASB ASC 606-10-15-2 and 606-10-15-4 to Contracts Within the Scope of FASB ASC 944

Download or read book Revenue Recognition Guide 2018 written by Scott A. Taub and published by Cch. This book was released on 2017-09-23 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Completely rewritten for 2017, Revenue Recognition Guide is a comprehensive reference manual that addresses authoritative literature on revenue recognition that must be adopted by public companies by 2018. Revenue Recognition Guide clarifies concepts and principles, and provides insight into issues that have been addressed as the accounting profession prepares to adopt the new guidance.

Download or read book Audit and Accounting Guide Construction Contractors 2018 written by AICPA and published by John Wiley & Sons. This book was released on 2018-09-14 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: Considered the construction contractors industry standard resource, this 2018 edition is packed with information on new requirements and relevant changes to the FASB Accounting Standards Codification, including a high-level look at FASB ASU Nos. 2014-09, Revenue from Contracts with Customers and 2016-02, Leases. Further, as an Appendix to Chapter 2, Contract Accounting, the guide contains the views of the AICPA's Revenue Recognition Task Force and Financial Reporting Executive Committee on the implementation of FASB ASU No. 2014-09. Whether you are in public accounting, performing assurance services, or operate in the industry, this resource has the information you need to perform at your best. Highlighting practical tips and industry specific guidance, this guide provides value from simple accounting to joint venture creation and takes a deep dive into industry specific auditing procedures. With two complete sets of financial statements and disclosures, it provides an industry accepted blueprint from where to start, or a reference for auditing the final product.

Download or read book Welcoming the New Revenue Recognition Standard Asc 606 Revenue from Contracts with Customers Second Edition written by Ambalika Singh and published by Independently Published. This book was released on 2019-03-02 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: The New Revenue Recognition Standard is a joint bold move made by both the FASB and the IASB to give top-lines of companies, across industries, a common denominator. It is a move from the fair value measure of vendor-specific objective evidence ('VSOE') to measure revenue, to one which takes into account what consideration the entity really expects to be entitled to receive from a contract with a 'customer'. The new standard broadens the definition of revenue to include newer concepts like contract costs incurred for transferring a good/ service, material rights and gain and loss from the sale of non-financial assets. There is specific guidance around contract combinations and contract modifications. 'Transfer of control to a customer' is the axis of the new revenue recognition standard. As control usually transfers before risks and rewards usually do, entities may witness an acceleration in revenue recognition. Collaborative arrangements have come under the scanner as the collaborator may be acting as a 'customer'. ASU 2018-18 issued in November 2018 removes the bias that amidst a risk and benefits sharing atmosphere of a collaborative arrangement, control of an output of an ordinary activity of one collaborator could be transferred to another collaborator for a consideration. Distinct goods/ services are now determined based on whether they are both individually distinct and are distinct within the context of the contract. Individually distinct goods/ services are now determined based on the characteristics of the goods or services themselves, instead of the way in which the customer may use the goods or services. VSOE rules are past tense and a good/ service may be distinct even if VSOE could not be established earlier. This may lead an increase or decrease in performance obligations, leading to difference in timing of revenue recognition. Increased judgement is needed for demarcating between a sale/ lease/ financing, in estimating variable consideration after applying constraints and in the capitalization and amortization of contract costs-especially in case of a principal versus agent situation. More disclosures are required. Provision for loss on contracts may apply to entities as ASC 606 amends ASC 605 for those paragraphs instead of superseding them. The position under IFRS is different as with the superseding of IAS 11 Construction contracts, the non-onerous provision for loss on construction contracts has been done away with. ASU 2017-01 and ASU 2017-05 narrowing the definition of 'business' and defining an 'In Substance Nonfinancial asset', respectively, impact the new revenue recognition standard from the point of view of a sale of non-financial assets to a customer- where the interest in an entity does not fall under the new definition of business but within the definition of essentially a non-financial asset. IFRS 3 has also been amended for a new definition of business and that does bring US GAAP and IFRS closer. The new standard interacts with the new leases standard and there may be a pit stop at ASC 606 before an entity transitions to the new leases standard. This book brings you the impacts from an exotic mix of industries as varied as aerospace and defense, engineering, media and entertainment, airlines, pharmaceuticals, health care, early-stage life sciences, software, construction and real estate, retail and e-commerce, hospitality, telecommunications, shipping, automotive, outsourcing and investment companies and promises deep learning. The new revenue recognition standard affects more than just revenue and impacts the business processes and results in dual SOX testing during the transition phase. With all the shuffling around the timing of payments being linked to the satisfaction of performance obligations, managements should properly assess their normal operating cycles and working capital. With sufficient discussions and training, all managements will be able to do the 'heavy lifting'.