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.

SPONSORED REPORT

2019 State of Financial Reporting Survey

We surveyed nearly 600 finance and accounting professionals on their month-end close and reporting processes. See the results.

VIDEO

What RPA is and how it works

Robotic process automation is like an Excel macro that can work on multiple applications, says Danielle Supkis Cheek, CPA. RPA can complete routine, repetitive tasks such as data entry, freeing up employee time from lower-level chores.