New working draft discusses revenue recognition issue for broker-dealers

By Ken Tysiac

A working draft issued Friday by the AICPA Financial Reporting Executive Committee discusses helpful considerations for broker-dealers related to implementation of FASB’s new revenue recognition standard.

Interested parties can submit informal feedback on the working draft, Broker-Dealer Issue No. 3-5: Investment Banking M&A Advisory Fees, by Feb. 15.

After issues are finalized, they are included in the AICPA’s Revenue Recognition Guide.

Ken Tysiac (Kenneth.Tysiac@aicpa-cima.com) is a JofA editorial director.

Where to find December’s flipbook issue

The Journal of Accountancy is now completely digital. 

 

 

 

SPONSORED REPORT

Get Clients Ready for Tax Season

This comprehensive report looks at the changes to the child tax credit, earned income tax credit, and child and dependent care credit caused by the expiration of provisions in the American Rescue Plan Act; the ability e-file more returns in the Form 1040 series; automobile mileage deductions; the alternative minimum tax; gift tax exemptions; strategies for accelerating or postponing income and deductions; and retirement and estate planning.