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AICPA issues seven revenue working drafts

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Feb 02, 2018

On February 2, 2018, the AICPA’s revenue recognition task forces released for public comment seven working drafts on accounting issues associated with the implementation of the new revenue standard for aerospace and defense, gaming, health care, insurance, and telecommunication entities.

The working drafts address the following topics:

  • Transfers of control with respect to non-U.S. federal government contracts (aerospace and defense)
  • Gaming entity’s cost to obtain a management contract (gaming)
  • Disclosures — contracts with customers (gaming)
  • Continuing care retirement community contracts (health care)
  • Accounting for contract costs (health care)
  • Accounting for third-party extended service warranty contracts (insurance)
  • Material renewal rights in telecommunications contracts (telecommunications)

Comments on the working drafts are due by April 2, 2018.

For more information, see the revenue recognition page on the AICPA’s website.

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