News & Analysis as of

Revenue Recognition Standard Financial Statements

Skadden, Arps, Slate, Meagher & Flom LLP

New IRS Rules on Timing of Income Recognition Raise Questions

On September 5, 2019, the Treasury Department (Treasury) and the IRS released proposed regulations (Regulations) that would impact when accrual method taxpayers report amounts in gross income. Generally, Section 451 provides...more

Farrell Fritz, P.C.

Founder Fraud Case Study: Roundtrip Contracts and Other Revenue Recognition Schemes

Farrell Fritz, P.C. on

The Securities and Exchange Commission filed a complaint last week against the founder of venture-backed mobile payments startup Jumio, Inc., charging him with causing the company to prepare false and misleading financial...more

Thomas Fox - Compliance Evangelist

New Revenue Recognition Standard: What Does It Mean For Compliance?

The new Revenue Recognition standard which may significantly impact the compliance profession, compliance programs and compliance practitioners going forward is here and ongoing in full force....more

Stinson - Corporate & Securities Law Blog

Recent SEC Comments on Revenue Recognition

For those of you who still have time or can tweak your second quarter 10-Q, we have noticed these recent comments on revenue recognition: Netflix, Inc. Please provide us with your analysis regarding payments made to...more

Thomas Fox - Compliance Evangelist

New Revenue Recognition Standard – The Podcast Series

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) for public business entities, certain not-for-profit entities, and...more

Thomas Fox - Compliance Evangelist

New Revenue Recognition Standard – Part V: Allocation and Revenue Recognition

I continue to explore the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606), for public business entities, certain not-for-profit...more

Thomas Fox - Compliance Evangelist

New Revenue Recognition Standard – Part IV: Determining the Transaction Price

This week I am exploring the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606), for public business entities, certain not-for-profit...more

Stinson - Corporate & Securities Law Blog

Revenue Recognition Representations for M&A and Underwriting Agreements

Some have suggested that the FASB’s new revenue recognition standard will result in particularized representations in M&A, underwriting and loan documents. It’s easy to argue it’s not necessary and is covered by the standard...more

Stinson - Corporate & Securities Law Blog

Early Revenue Recognition Adopters Provide Some Guidance on MD&A Disclosures

I recently wrote a blog on considerations for MD&A disclosures on adoption of the new revenue recognition standard. After learning a few Form 10-Qs had been filed by early adopters, I took a look to see if they lined up with...more

Stinson - Corporate & Securities Law Blog

The First MD&A Following Adoption of the New Revenue Recognition Standard

The SEC has made clear its expectations regarding MD&A disclosure for periods prior to the adoption of the new revenue recognition standard. What has received less attention is the content of MD&A after the new revenue...more

Cooley LLP

Blog: New Revenue Recognition Standard—Are Companies Overlooking The Disclosures?

Cooley LLP on

The warnings are everywhere—it’s time to get serious about revenue recognition. The new standard is expected to result in significant changes to measuring, recognizing and reporting of revenue—regarded as the key line item in...more

Stinson - Corporate & Securities Law Blog

SEC Accountant Speaks to Revenue Recognition

Sylvia E. Alicea, Professional Accounting Fellow, Office of the Chief Accountant, gave her views on implementation of the new revenue recognition standard at a conference dedicated to the topic....more

Stinson - Corporate & Securities Law Blog

SEC Wants to Know Where You Are at on Revenue Recognition

Members of the SEC and staff gave various presentations at the 2015 AICPA Conference on Current SEC and PCAOB Developments. Much of it contains practical guidance. Speaking to the new accounting standard on revenue...more

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