“I’ve told most of my family and friends that if and when I became
chairman of the awesome and powerful Ways and Means Committee, I didn’t
want to be treated any differently from any other world leader.”
—House Ways and Means Committee Chairman Charles B. Rangel,
D-N.Y., to the National Press Club, April 17.
New accounting standards on revenue recognition, leases, and credit losses present implementation challenges. This independently-written report identifies the hurdles that accounting professionals face and provides tips for overcoming the challenges.