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Revenue Recognition 2014
The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) have jointly issued a converged standard on the recognition of revenue from contracts with customers.
FASB Issues Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606)
FASB Voted to Propose Effective Date for Revenue Recognition Be Deferred by One Year
Update No. 2014-09—Revenue from Contracts with Customers (Topic 606)
The July/August issue of CFMA Building Profits featured an overview of the new standard – find out what you need to know.
View CFMA’s most recent Webinar on this topic: “Revenue Recognition: Implementation Considerations.” Free to CFMA members, $43.95 for non-members.
CFMA’s Revenue Recognition Implementation Guide ($25/CFMA Members; $75/Non-CFMA members) is the step-by-step guide to successful implementation, including best practices, timelines, and how regulations will impact internal accounting systems, tax planning, and more.
Learn more about these organizations' roles in the release of the new Revenue Recognition standard.
FASB (Financial Accounting Standard Board)
FAF (Financial Accounting Foundation)
GASB (Governmental Accounting Standards Board)
International Accounting Standards Board (IASB)/IFRS Foundation
CFMA commentary provided to ConstructionProNet
CFMA Revenue Recognition Comment Letters
CFMA has been involved in the Revenue Recognition project since the issuance of the 2008 Discussion Paper because of the profound impact which this new standard will have on the construction industry.
CFMA Comments - File Reference No 1660-100 (pdf)
CFMA Survey Results for File Reference 1660-100 (pdf)
CFMA RESPONSE TO FASB REVENUE RECGONTION REEXPOSURE DRAFT (doc)
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Visit CFMA's Connection Cafe and search "Revenue Recognition" for further updates and answers to your revenue recognition questions related to the new standard's release.
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