Home >
Accounting >
Others >
Revenue Recognition Guide (2012)

Revenue Recognition Guide (2012)

Author: Scott A. Taub
Publisher: CCH U.S.
ISBN: 9780808026501
Published In: October 2011
Format: Paperback , 608 pages
Jurisdiction: U.S. ? Disclaimer:
Countri(es) stated herein are used as reference only

New Edition is available now !

Description
Contents
Author

Details

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.

This edition has been updated to reflect the FASB Accounting Standards Codification (TM) pronouncements/topics to help you quick locate the information you need in the way that you prefer accessing it.

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 lists show the chapter in which a particular pronouncement is discussed; the Index provides a quick page reference based on topic.

Revenue-Related Literature
General Principles
Multiple-Deliverable Revenue Arrangements
Product Deliverables
Service Deliverables
Intellectual Property Deliverables
Miscellaneous issues
Contract Accounting
Software: a Complete Model
Presentation
Disclosures
Future Expectations

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.

Mr. Taub attended the University of Michigan in Ann Arbor, where he received an undergraduate degree in economics and accounting in 1990.