AICPA issues broker-dealer revenue recognition working draft

By Ken Tysiac

A new working draft issued Tuesday 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.

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

FEATURE

Maximizing the higher education tax credits

A counterintuitive strategy can save taxes by including otherwise excludable scholarships in gross income.

SPONSORED REPORT

Solving the lease accounting challenge

The challenges of the new lease accounting standard have been pervasive to say the least. In this free, independently-written report, you'll learn effective adoption strategies as well as resources for easing the transition to the new standard.