1. News
  2. NEWS DIGEST

FinREC seeks comment on telecommunications revenue recognition issue

The committee is updating an industry-specific guide.

Related
TOPICS

An issue for telecommunications entities related to considering the effect of the time value of money is the topic of a revenue recognition implementation working draft published by the AICPA Financial Reporting Executive Committee (FinREC).

FinREC published an industry-specific guide to implementing FASB's revenue recognition standard that is available for purchase at the revenue recognition page on the AICPA website. The guide is being updated as issues are completed by 16 industry task forces.

The issue that FinREC is seeking comments on is:

  • Telecommunications Entities: Issue No. 15-5, Considering the Effect of the Time Value of Money.

Feedback is sought by July 3 and can be sent to Desiré Carroll at Desire.Carroll@aicpa-cima.com.

VIDEO

Excel walk-through: Sparklines

Want to liven up your spreadsheets with some color and graphical elements? Kelly L. Williams, CPA, Ph.D., shows how to use Excel sparklines, which illustrate data trends and patterns via small charts that fit in a single Excel cell.

PODCAST

What’s next for potential CPA licensure changes

A new model proposed by NASBA and the AICPA is designed with an eye on the future for newly licensed CPAs. The AICPA's Carl Mayes, CPA, provides background on the project and a look ahead to 2020.