This publication addresses key accounting implementation issues related to Topic 606, Revenue from Contracts with Customers and related updates through FASB ASU No. 2016-12. At its completion, the guide will include 16 industry-specific chapters that address accounting implementation issues, and provide industry- specific illustrative examples of how to apply the new standard. It will also provide in-depth coverage of audit considerations from risk assessment and planning to execution of the audit.
In light of the material changes resulting from this standard, it will require significant analysis and preparation well in advance of the effective date for all financial reporting based on US GAAP. For that reason, the AICPA is offering two options to quickly deliver finalized implementation issues as quickly as possible. Those options include:
- an annual online subscription available via our online professional library, or
- combination print/PDF, which includes completed chapters as of January 2017 in print as well as online PDF access to finalized implementation issues.
Accounting and auditing content of this guide will be updated as implementation issues are finalized, and can be tracked via the link below.