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AICPA Committee Issues 20 Working Drafts for Implementing Revenue Standard

Twenty working drafts have been created to help companies implement Accounting Standards Update No. 2014-09, Revenue From Contracts With Customers. Issued by the American Institute of Certified Public Accountants’ Financial Reporting Executive Committee, the draft implementation guides cover eight industries with respect to airlines, healthcare businesses, energy companies, and telecommunications.

The working drafts are as follows:

  • Working Draft: Airlines Revenue Recognition Implementation Issue #2-5A: Timing and Classification of Commissions in Interline Transactions
  • Working Draft: Airlines Revenue Recognition Implementation Issue #2-6G: Changes in the Volume of Mileage Credits Under a Cobranded Credit Card Arrangement
  • Working Draft: Asset Management Revenue Recognition Implementation Issue #10-9: Reporting Asset Management Arrangement Revenue: Gross Versus Net
  • Working Draft: Construction Contractors Revenue Recognition Implementation Issue #4-6: Contract Costs
  • Working Draft: Gaming Revenue Recognition Implementation Issue #6-8C: Loyalty Cobranding Arrangements
  • Working Draft: Gaming Revenue Recognition Implementation Issue #6-12: Accounting for Racetrack Fees
  • Working Draft: Health Care Revenue Recognition Implementation Issue #8-9: Risk Sharing Arrangements
  • Working Draft: Oil and Gas Revenue Recognition Implementation Issue #12-1: Revenue Recognition of Sales of Oil and Gas
  • Working Draft: Oil and Gas Revenue Recognition Implementation Issue #12-2: Inventories
  • Working Draft: Oil and Gas Revenue Recognition Implementation Issue #12-3: Joint Operating Agreements
  • Working Draft: Oil and Gas Revenue Recognition Implementation Issue #12-4: Derivative Commodity Contracts
  • Working Draft: Oil and Gas Revenue Recognition Implementation Issue #12-5: Disclosures
  • Working Draft: Power and Utility Revenue Recognition Implementation Issue #13-4: Determining the Standalone Selling Price for Commodities
  • Working Draft: Power and Utility Revenue Recognition Implementation Issue #13-5: Accounting for Blend-and-Extend Contract Modifications
  • Working Draft: Power and Utility Revenue Recognition Implementation Issue #13-6: Partial Terminations
  • Working Draft: Power and Utility Revenue Recognition Implementation Issue #13-7: Timing of Revenue Recognition From Sales of Electricity and Capacity
  • Working Draft: Power and Utility Revenue Recognition Implementation Issue #13-8: Timing of Revenue Recognition From Sales of Self-Generated Renewable Energy Credits (RECs)
  • Working Draft: Power and Utility Revenue Recognition Implementation Issue #13-9: Treatment of Contributions in Aid of Construction (CIAC)
  • Working Draft: Power and Utility Revenue Recognition Implementation Issue #13-12: Income Statement Presentation of Alternative Revenue Programs
  • Working Draft: Telecommunications Revenue Recognition Implementation Issue #15-11: Wireless Transactions Within the Indirect Channel

Comments on the proposed implementation guidance are due Friday, December 1. If approved, the guidance will be added to the Audit and Accounting Guide (AAG): Revenue Recognition.

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