Disclosures for the revenue recognition standards

The expanded disclosures required by the new standard are discussed here. http://www.journalofaccountancy.com/News/201410313.htm

revenue recognition

Resources related to revenue recognition standard http://www.aicpa.org/InterestAreas/FRC/AccountingFinancialReporting/RevenueRecognition/Pages/RevenueRecognition.aspx

Related party transactions

http://www.journalofaccountancy.com/News/201410276.htm PCAOB is considering adopting new related party transaction audit rules next week. This standard was re-proposed in May of 2013, after comments from the 2012 proposal. There have been two rounds of comments thus far.

A fraud IQ quiz

This Journal of Accountancy article has a short 8 question quiz (with answers) on interviews related to fraud. http://www.journalofaccountancy.com/Issues/2014/Jun/20149666.htm

Challenges discussed for the telecommunications industry

Predicted issues for revenue recognition in the telecommunications industry. This podcast by ATT Accounting director presents some of the issues. http://jofa.podomatic.com/entry/2014-05-29T12_58_17-07_00

Companies face internal control compliance challenges

A survey of 600 audit executives indicated 48% had not yet begun to implement the new COSO internal control framework changes. Other challenges were discussed with PCAOB, and SOX compliance. http://www.accountingtoday.com/news/sarbanes_oxley/companies-face-compliance-challenges-from-sox-pcaob-and-coso-70779-1.html

Preparing for the revenue recognition standard

This Journal of Accountancy article highlights some of the issues for implementing the new revenue standard. http://www.journalofaccountancy.com/News/201410219.htm