Freak Out Because Doomsday IS Approaching
If you’re involved in corporate finance these days, scary times aren’t confined to the month of October. That eerily omnipresent sound you’re hearing isn’t slow footsteps creaking across floorboards as the grim reaper approaches, but rather the spine-tingling tick-tock-tick-tock of a clock counting down to the 2018 effective date for the new revenue recognition accounting […]
The Final Final for the New Revenue Recognition Standard ?
Is this the end? Haven’t we all seen those films where you think it’s over and suddenly the bad guy (or gal) gets back up? We’re talking to you, every “Halloween” movie, “Friday the 13th” flick, “Fatal Attraction” and countless others. Or, those final celebrations in honor of the conquering heroes which really weren’t? *Cough* […]
What a Difference a Year Makes
Last year, we examined the eye-opening findings of a survey of technology CFOs, which indicated a majority of these people most responsible for the financial standing of their own companies were not themselves fully up to speed on the landscape-shifting new revenue recognition guidelines coming down the pike. Yes, the annual report from BDO USA, this country’s […]
Hurry Up & Wait, or What’s the Why in Delayed New Guidance Efforts?
Let’s say you work in the financial services division of a company which has not only completed an assessment of the specific effects of the new revenue recognition standard, but has a plan detailing how to implement the new standard. You clearly work for an organization which is forward-thinking, competitive, ambitious ….and, sadly, in the minority. […]
Who Benefits from the New Guidance?
Hey, did you know a new set of standards for revenue recognition is coming down the pike? We’re kidding. Of course you do. We were curious if a certain type of company, specific industries, or even a company selling a certain kind of bundled product might see more benefits when the new guidance becomes the […]
Is Anyone Really Ready for the New Revenue Guidance?
We are all about numbers so here are a few to mull over… 75 (the percentage of respondents yet to complete an impact assessment for the new revenue recognition guidance from a survey of companies in a variety of industries conducted this past summer by PricewaterhouseCoopers (PwC) and Financial Executives Research Foundation (FERF)) 27 (the […]
Nightmare on Wall Street
Stock shares take a nosedive. The name Enron is being thrown around as a comparable narrative. A special investigative panel is convened, and not for the purpose of deciding the holiday party theme. If this were your company, you don’t need to peruse the cinematic offerings this Halloween season to scare up a fright. You’re […]
Nonprofit ‘Need to Knows’ on the New Guidance
Over the past year or so, we’ve made it a point in this space to analyze the new revenue recognition standards from various vantage points. The goal of the converged revenue recognition guidelines announced last year was a more common revenue recognition standard, factoring in the various way entities account for revenue. Today, we visit […]
FASB Proposes Further Changes to New Guidance
Another wave of changes is on the horizon for the new revenue recognition guidance, which could tweak visions of global convergence in revenue recognition. As reported in Accounting Today and other venues, the Financial Accounting Standards Board (FASB) this week published an accounting standards update to address issues around collectibility, taxes, non-cash consideration, contract modifications and […]
FASB To Discuss Delay
It’s a topic near and dear to the hearts of everyone interested in revenue recognition and it appears to be up for discussion this week. The proposed one-year delay of the effective date for the new revenue recognition guidance is on the docket tomorrow, July 9th, at the FASB board meeting. The gathering of the governing […]
FEI Panel: New Standard Muddles Disclosure Considerations
As part of the recent revenue recognition event hosted by Financial Executives International (FEI), a panel discussion illuminated the tricky nature of disclosure requirements amid the still-evolving new guidelines. The possibility of more expansive disclosure requirements and uncertainty over what the final standard will look like were among the topics of a lively panel session during the […]
IFRS Convergence Roadmap for Indian Companies
By Saloni Madhok, Marketing Manager at Zuora We delve into the newly converged revenue recognition guidelines as it relates to the country of India. Following today’s introduction, we will feature upcoming items on the impact to the country’s automobile industry and the dilemma of timing. The country’s Ministry of Corporate Affairs (MCA) along with other government […]