News & Analysis as of

Goods or Services Financial Reporting

Mayer Brown

Our Views on the Proposed FASB and IFRS Payables Reporting Rules

Mayer Brown on

In December 2021 the Financial Accounting Standards Board (“FASB”) and the International Accounting Standards Board (“IASB”) released their proposed amendments to their accounting standards that will require buyers of...more

Shumaker, Loop & Kendrick, LLP

Client Alert: Business Owners–Did you really earn that revenue? The Authorities say “Not so FASB.”

Thanks to a new revenue recognition standard implemented by the Financial Accounting Standards Board (FASB), formally titled “ASC 606, Revenue from Contracts with Customers” (“ASC 606”), the ability of business owners to...more

Foster Garvey PC

Owner Beware: Changes Coming for Recognizing Revenue under Online Travel Agency (OTA) Contracts

Foster Garvey PC on

Revenue is an important indicator of a hotel property’s financial health. It is used to analyze and interpret financial results using key industry operating metrics ( i.e., average daily rate [ADR] and revenue per available...more

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