Revenue is the top line in the income statement and one of the most important figures to both preparers and users of financial statements. It is also one of the most difficult numbers in the financial statements to get right. Revenue Recognition Guide is a comprehensive reference manual covering the key concepts and issues that arise in determining when and how to recognize revenue. It covers the litany of existing authoritative literature related to revenue recognition and clarifies those revenue recognition concepts that are vague. For issues not addressed in the accounting literature, this Guide provides suggested accounting treatments that are consistent with general revenue recognition concepts and principles. The Guide also provides examples of key points, includes excerpts from the financial statements of public companies, illustrating key concepts and judgments, and discusses revenue recognition projects on the agendas of the various accounting standard-setters. Revenue Recognition Guide is organized into 13 chapters. Within these chapters, a number of Observations and Practice Pointers highlight key consequences of the accounting guidance and identifies issues to watch for when dealing with certain revenue transactions. SEC Registrant Alerts highlights issues that the SEC is particularly focused on, as well as additional guidance provided by the SEC beyond the guidance typically followed by non-public companies. To facilitate research, the text includes references to pertinent paragraphs of the authoritative literature addressing key points. Material can be located several ways: the Cross-Reference shows the chapter in which a particular pronouncement is discussed; the Index provides a quick page reference based on topic.
FREE Two-Day Shipping for Students. Learn more |
Book Description
Special Offers and Product Promotions
- Buy $50 in qualifying physical textbooks, get $5 in Amazon MP3 Credit. Here's how (restrictions apply)
Editorial Reviews
About the Author
Ashwinpaul (Tony) C. Sondhi currently is a member of the Emerging Issues Task Force of the FASB. He also serves on the board of directors of an investment advisory services firm and is an advisor to several U.S. and foreign companies. His consulting activities include consolidation policy issues related to variable interest entities, revenue recognition pratices, revenue arrangements with multiple deliverables, financial reporting requirements for foreign operations, and analysis of company-wide financial reporting decisions. He also was a member of the Accounting Standards Executive Committee of the AICPA, the FASB Task Force on Accounting for Impairments of Long-Lived Assets, and the Statement of Cash Flows Steering Committee of the International Accounting Standards Committee. Mr. Sodhi also was an advisor to the FASB on its project comparing U.S. and International Financial Reporting Standards. Scott A. Taub was a partner in Arthur Andersen s Professional Standards Group until July 2002, where he worked with clients on matters of accounting and auditing, developed Arthur Andersen s accounting policies, and represented the firm before the Financial Accounting Standards Board, the Emerging Issues Task Force (EITF), the U.S. Securities and Exchange Commission (SEC), the American Institute of Certified Public Accountants (AICPA), and the International Accounting Standards Board. Mr. Taub rejoined the Professional Standards Group in 2001 after spending two years on the staff of the Office of the Chief Accountant of the SEC. Mr. Taub began his career with Arthur Andersen in 1990, and spent seven years in the audit practice before originally joining the Professional Standards Group in 1997. Subsequent to writing this book, Mr. Taub rejoined the SEC staff as a Deputy Chief Accountant in the Office of the ChiefAccountant. He also chaired the accounting, audit and disclosure standing committee of the International Organization of Securities Commissions. Currently, he is a Managing Director at Financial Reporting Advisors.
Product Details
Would you like to update product info or give feedback on images?
|
Customer Reviews
|
There are no customer reviews yet.
|
|||
|
Video reviews
|
Inside This Book
(learn more)
Key Phrases - Statistically Improbable Phrases (SIPs):
(learn more)
product deliverables, proportional performance, research agreement, customer financing, total expected revenues, exposure draft, interpretive response, same counterparty, political thriller, customer contributions, customer loyalty programs, net presentation, earnings approach, cumulative gross profit, real estate sales, customer loyalty programmes, completed performance model, specific refund rights, information about required disclosures, fair value evidence, other revenue recognition criteria, revenue recognition literature, gift card breakage, noncontingent guarantee liability, deferrable costs Key Phrases - Capitalized Phrases (CAPs): (learn more)
Multiple-Element Arrangements, Year Ended December, Complete Model, General Principles, Completed Performance, Miscellaneous Issues, Corp Fin, Additional Facts, Deposit Liability, Brief Survey of Revenue-Related Literature, Statement of Position, Training Passport, Task Force, Year Ended February, Year Ended March, Division of Corporation Finance, Report Pursuant, Arrangement Contains, Marketing Company, Percent Complete, Customer Acceptance Based, Supplemental Literature, Current Period Revenues, Current Period Gross Profit Percentage, Year Ended September Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
product deliverables, proportional performance, research agreement, customer financing, total expected revenues, exposure draft, interpretive response, same counterparty, political thriller, customer contributions, customer loyalty programs, net presentation, earnings approach, cumulative gross profit, real estate sales, customer loyalty programmes, completed performance model, specific refund rights, information about required disclosures, fair value evidence, other revenue recognition criteria, revenue recognition literature, gift card breakage, noncontingent guarantee liability, deferrable costs Key Phrases - Capitalized Phrases (CAPs): (learn more)
Multiple-Element Arrangements, Year Ended December, Complete Model, General Principles, Completed Performance, Miscellaneous Issues, Corp Fin, Additional Facts, Deposit Liability, Brief Survey of Revenue-Related Literature, Statement of Position, Training Passport, Task Force, Year Ended February, Year Ended March, Division of Corporation Finance, Report Pursuant, Arrangement Contains, Marketing Company, Percent Complete, Customer Acceptance Based, Supplemental Literature, Current Period Revenues, Current Period Gross Profit Percentage, Year Ended September Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
What Other Items Do Customers Buy After Viewing This Item?
Tag this product(What's this?)Think of a tag as a keyword or label you consider is strongly related to this product.
Tags will help all customers organize and find favorite items. |
Sell a Digital Version of This Book in the Kindle Store
If you are a publisher or author and hold the digital rights to a book, you can sell a digital version of it in our Kindle Store.
Learn more
Customer Discussions
|
This product's forum
Active discussions in related forums
Search Customer Discussions
|
Related forums
|
