Revenue recognition remains an important issue for financial executives and preparers, while new guidance and proposals from the SEC and the release of an updated COSO enterprise risk management framework filled out a busy summer of regulatory change.
In addition, new accounting standards issued by the Financial Accounting Standards Board (FASB) during the months of May, June, and July touch on a variety of issues that affect preparers, including:
- Measurement of credit losses on financial instruments
- Narrow implementation issues related to the new revenue recognition standard for contracts with customers
- Rescission of Securities and Exchange Commission (SEC) guidance on existing revenue recognition and derivatives and hedging
The Financial Reporting and Regulatory Update Summer 2016 includes key insights about where companies should be today and significant implementation challenges they’re addressing during a discussion with Crowe Horwath’s Jim Hannan and Scott Sachs.