New Revenue Recognition Standard - Audio White Paper for Compliance Officers
This Week in FCPA-Episode 80, The Last Jedi Edition
New Revenue Recognition Standard-Part V, What does it all mean?
New Revenue Recognition Standard-Part III, Shaking Up the Software Industry?
The Securities and Exchange Commission’s bread-and-butter enforcement actions focus on accounting fraud. The SEC has a long history in uncovering fraudulent financial reporting schemes. In the early 2000s, Wall Street was...more
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
An audit report was filed with a 10-K that includes two CAMs. One is related to revenue recognition and the other is related to uncertain tax positions....more
On June 14, 2019, Judge William Alsup of the United States District Court for the Northern District of California dismissed a putative class action against a cybersecurity company (the “Company”) and certain of its...more
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
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
Fraud presents a constant threat to companies around the globe—and that risk is growing as perpetrators become ever more digitally savvy and creative in their criminal activities. K2 Intelligence has conducted a multitude of...more
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
Many public companies became subject to the new revenue recognition rules when they filed their first quarter Form 10-Qs in 2018. It appears the SEC may not have wasted any time in beginning to issue comments....more
Ford and Alphabet have received SEC comments on their initial disclosures under FASB’s new revenue recognition standard. Both required more than one round to clear....more
An audio white paper deep dive into the New Revenue Recognition Standard issued by FASB. In five chapters, compliance leaders Tom Fox and Matt Kelly look at all aspects of the revenue recognition standard, and what it means...more
Jay and I return for a wide-ranging discussion on some of the top compliance- and ethics-related stories of the week, including: 1. There are several FCPA 40th anniversary pieces going up these days. The FCPA Blog is looking...more
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
Matt Kelly and I have put together a five-part podcast series where we explore implications of this new revenue recognition standard. Each podcast is short, 11-13 minutes and deals with one topic on the new revenue...more
This week’s OTA & Travel Distribution Update for the week ending October 27, 2017 is below. This week's Update includes a number of substantive stories on OTAs, particularly, European authorities’ renewed interest in OTAs’...more
Cboe Global Markets, Inc. (f/k/a CBOE Holdings, Inc.) recently received comments on its Form 10-Q related to FASB’s new revenue recognition standard. ...more
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
The PCAOB has issued an alert to discuss certain significant matters relating to the application of PCAOB standards relevant to auditing the implementation of the new accounting standard for revenue from contracts with...more
"NEW GAAP" REVENUE RECOGNITION - In 2014, the U.S. Financial Accounting Standards Board ("FASB") issued new revenue standards under Accounting Standards Codification ("ASC") 606, Revenue from Contracts with Customers...more
If I told you that the last seven batting titles were won by baseball players who were originally from Venezuela, would you immediately run down to ICE and claim that our national pastime had been overrun by Venezuelan...more
A recent public company acquisition transaction addresses FASB’s new revenue recognition standard. In the transaction, Envestnet (NYSE: ENV), a provider of systems for wealth management and financial wellness, announced that...more
Some people don’t believe in blazing trails and adopting public reporting standards before you have to. They think you’re sticking your neck out, and will become a Guinea pig for SEC comments or fodder for plaintiff’s lawyers...more
The Financial Accounting Standards Board's new revenue recognition standard is expected to have wide-ranging effects on M&A transactions. The new revenue recognition standard under GAAP will be applicable to public companies...more
FASB’s new revenue recognition standard is expected to have wide ranging effects on M&A transactions. The new revenue recognition standard under GAAP (Accounting Standards Update 2014-09; Topic 606) will be applicable to...more