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AICPA issues second set of working drafts of revenue implementation issues

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Jul 08, 2016

On July 8, 2016, the AICPA’s Financial Reporting Executive Committee (FinREC) has released for public comment nine working drafts of accounting issues associated with implementation of the new revenue standard.

This is the second set of working drafts of revenue recognition implementation issues release by FinREC; in November 2015, the Committee also issued nine working drafts.

The working drafts apply to entities in the following industries: (1) aerospace and defense, (2) airline, (3) broker-dealer, (4) engineering and construction contracting, (5) gaming, (6) health care, (7) investment asset management, (8) not-for-profit, and (9) software. Comments on the working drafts are due by September 1, 2016.

For more information, see the links to each industry’s task force on the revenue recognition resource page on the AICPA’s Web site.

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