A business that uses the accrual basis of accounting recognizes revenue and expenses in the accounting period in which they are earned or incurred, regardless of when payment occurs. This differs from ...

Changes to principal vs. agent guidance are on track for final approval as FASB and the International Accounting Standards Board (IASB) amend the converged revenue recognition standard that they ...

Fellow Irregulars Phil Wainewright and Jason Corsello are batting around the implementation services revenue recognition issue following Taleo's restatement of earnings. Phil uses it as a reason to ...

The Financial Accounting Standards Board and the International Accounting Standards Board have jointly published a draft standard to improve and align the financial reporting of revenue from contracts ...

Accrual method accounting separates revenue recognition from cash flow. That means a company records revenue in its books based on whether it has earned money, not whether it has actually received ...

Editor’s note: On April 14, FASB and the IASB said the priority projects on revenue recognition, leases and financial instruments, scheduled to be completed in June, would require a few more months of ...

Proposed contract-based standards for revenue recognition are attracting some support, but also raising questions, according to a new survey. The Financial Accounting Standards Board and the ...

Revenue recognition has always represented a challenge for the construction sector. This basic accounting principle defines the how and when a business addresses income it earns through contracted ...

There are many industries where companies provide goods or services but aren’t immediately paid for them. From an accrual basis accounting standpoint, these represent accrued revenue for the company.