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Rulemakers Launch Revenue-Recognition Makeover

The accounting boards aim to make a dent in a mile-high stack of problems facing companies in terms of reporting sales that are linked to customer contracts.

December 22, 2008

Accounting standards for corporate recognition of revenue from the sale of products and services need an extreme makeover, and American and international standard setters are asking for long-range help. On Friday, the Financial Accounting Standards Board and the International Accounting Standards Board issued a joint discussion paper on revenue recognition rules, asking constituents for comments by June 19, 2009. Read more...

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More Revenue Management Articles

  • Nordstrom's State Tax Gambit Fails

    The courts say that shifting trademark royalty collection to subsidiaries in other states did not release the upscale retailer from its Maryland tax obligation. November 10, 2008

  • CFOs React: Genesis Lease's Alan Jenkins

    The smaller, well-financed Ireland-based aircraft lessor seems insulated from many crisis-related problems, but worries could grow if a global aviation malaise develops. October 1, 2008

  • Revenue Recognition Trips Up Auditors, Clients

    Audit firms that were found deficient during PCAOB inspections usually accepted the way a client company accounted for sales in the past, rather than checking for updates. September 16, 2008

  • Will Congress Act to Save Tax Break on Foreign Subs?

    A rule that has nearly halved the effective tax rates on some controlled foreign corporations must be renewed by the end of the year, or else. August 25, 2008

  • IRS Swats the Killer B

    For the second time this summer, the IRS attacks a loophole that allows "effective repatriation" of profits without reporting the associated income. July 29, 2008

  • Revenue-Recognition Rules: From the Many, One?

    Coming this fall, a sneak peek at a slimmed-down revenue recognition rule. Software companies and other interested parties: Here's your chance to make some noise about it. July 17, 2008

  • Going for the Gold

    Can a savvy finance strategy propel Women's Professional Soccer to post-Olympic glory? July 15, 2008

  • You’ve Got Charges: SEC Sues Ex-AOL Time Warner Execs

    After a six-year investigation, the commission files fraud charges against eight former executives for allegedly inflating ad revenue. May 19, 2008

  • Corporations Escape Patent Threat

    A federal judge bars enactment of a cap on the number of revisions a company can make on a patent application. April 4, 2008

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