Revenue Recognition Working Drafts Issued for Nine Industries
Earlier this month, the American Institute of Certified Public Accountants’ Financial Reporting Executive Committee (“FinREC”) issued 20 working drafts of interpretative guidance for implementation issues related to the Financial Accounting Standards Board’s Accounting Standards Update No. 2014-09, Revenue From Contracts With Customers. The working drafts offer industry-specific examples for implementing the revenue recognition standard, and pertain to the following sectors:
- Aerospace and Defense
- Engineering and Construction Contractors
- Health Care
- Asset Management
Comments on the working drafts must be submitted by Thursday, September 1.
Topics: Aerospace, Airlines, Asset Management, Broker-Dealer, Engineering and Construction Contractors, Financial Reporting Executive Committee "FinREC", Gaming, Health Care, Nonprofits, Revenue Recognition, Software