AICPA issues broker-dealer revenue recognition working draft

Work continues on the Revenue Recognition Guide.

A new working draft by the AICPA Financial Reporting Executive Committee addresses a consideration for broker-dealers related to FASB's new revenue recognition standard.

When completed, the working draft will be added to the AICPA's Revenue Recognition Guide. The issue is Broker-Dealer Issue No. 3-2, Selling and Distribution Fee Revenue.

Informal feedback on the issue may be submitted by March 1 to Ivory Bare at Ivory.Bare@aicpa-cima.com.

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100th ANNIVERSARY

Black CPA Centennial, 1921–2021

With 2021 marking the 100th anniversary of the first Black licensed CPA in the United States, a yearlong campaign kicked off to recognize the nation’s Black CPAs and encourage greater progress in diversity, inclusion, and equity in the CPA profession.