Industry Insights

AICPA Progress on Revenue Guidance

March 2017

Executive Summary

The American Institute of CPAs (AICPA) formed 16 industry task forces to help develop a new accounting guide on revenue recognition that will provide helpful hints and illustrative examples for applying the new revenue recognition standard. Progress on the guideā€™s development has been slower than expected. In January 2017, AICPA issued its 2016 Revenue Recognition Audit & Accounting Guide, acknowledging that additional supplements will be provided to address industry-specific issues as they are finalized.

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