A&A Focus webcast featured a deep dive into step 4 of the five-step revenue recognition process outlined in FASB ASC Topic 606, as well as news on new auditing standards exposure drafts.

Under an accrual accounting system, the recognition of revenue is independent from when the cash is received. If cash or check is received at the time of providing the goods/services, then the revenue ...

The AICPA resource features new guidance and terminology for financial statement preparers and auditors. The December webcast also included updates on the AICPA Accounting Standards Review Committee’s ...

This practice aligns directly with the revenue recognition principle—a fundamental part of GAAP. According to GAAP, revenue can only be recorded after it has been earned by fulfilling customer ...

Kang, Jung Koo, and Paul M. Healy. "Revenue Recognition at Stride Funding: Making Sense of Revenues for a Fintech Startup." Harvard Business School Multimedia/Video Supplement 124-710, February 2024.