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 guide’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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