Time to Test-Drive
the Revenue Recognition Proposal
Russell Hodge, global technical controller at General Electric, said a new standard on revenue is close enough to reality that he is instructing business managers to keep the likely new regulations in mind as they draw up contracts. Read what Hodge and other members of a panel on the topic had to say about the impact of the proposed changes and how to prepare for the new rules.
New Auditors’ Reporting Model Proposal Set for Release in Q2
By the second quarter of this year, the PCAOB’s proposal for a new auditors’ reporting model should be completed, PCAOB Chair James Doty said at an AICPA conference on SEC and PCAOB developments in Washington. The PCAOB also will hold a public meeting in March on the issue of potential limits of audit firm tenure with public companies.
Example Worksheets for a Statement of Cash Flows for an Organization With Multiple Functional Currencies
Mistakes in accounting for foreign-currency translations are commonplace, and the results of those errors can be costly. The online version of the feature article “Three Common Currency-Adjustment Pitfalls,” contains example worksheets illustrating one of the three common mistakes and the correct method.
SOCIAL MEDIA TIP
LinkedIn Introduces Company Status
Enhancements to LinkedIn’s “Company” pages allow users to receive status updates—such as news, job openings, employee promotions or departures, videos, new services or product information—directly from the companies they follow.
LinkedIn has more than 2 million company pages. To find companies you’re interested in, choose “Companies” in the dropdown menu to the left of the search bar and enter the company name in the search bar. When you locate the page you’d like to follow, click the blue “Follow Company” button in the right column of the page.
You will see status updates from all of the companies you follow on your home page news feed or by clicking the “Companies” link in the navigation bar at the top of the page.
For more social media tips, visit facebook.com/JournalofAccountancy and click the “Social Media Tips” link in the left column.
—Megan Pinkston ( firstname.lastname@example.org ) is a JofA senior editor.