TRG Tackles M&D Revenue Issues

Thoughtware Article Published: Dec 01, 2016

Related Industries

Manufacturing & Distribution

Topics

Revenue Recognition

Lasing cutting through metal

Executive Summary

Manufacturing and distribution (M&D) companies face unique challenges in applying the new revenue recognition standard, Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606), due to the variety of revenue streams common in the industry. The Financial Accounting Standards Board Transition Resource Group (TRG) addressed several M&D issues at its November 2016 meeting.

Article

Nov 10, 2021

New Business Combination Guidance for Contract Assets & Liabilities

A new accounting standards update addresses how to determine whether a contract liability is recognized by the acquirer in a business…

Alert

May 04, 2021

Tennessee Clarifies Definition of Tangible Personal Property

Read on for an overview of Tennessee’s recently signed House Bill 131, as well as which types of fixture are now excluded from the…

Alert

Feb 03, 2021

IRS Finalizes Changes Related to Revenue Recognition

Final regulations have been released implementing amendments for determining the taxable year in which an amount must be reported as gross…

Article

Mar 03, 2020

Revenue Changes for Rewards Programs

With the adoption of Accounting Standards Update 2014-09, Revenue from Contracts with Customers, companies with loyalty rewards programs…

Article

Feb 11, 2020

NFP Revenue Recognition Resources

With private companies and not-for-profit (NFP) organizations in the home stretch of implementing Accounting Standards Codification 606,…

Article

Feb 10, 2020

Financial Institutions Revenue Recognition Resources

With private companies in the home stretch of implementing Accounting Standards Codification 606, FASB posted an Implementation Q&A on…

Kate & Ben — How can we help you? Contact Us!

How can we help you?