Revenue Recognition: Audit and Accounting Guide
This guide addresses key accounting provisions of Topic 606 and related updates through FASB ASU No. 2016-12. It offers in-depth coverage of audit considerations from risk assessment and planning to execution of the audit.

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Understand critical accounting implementation issues

Key Topics

  • Accounting provisions of FASB ASC 606
  • Comprehensive coverage of audit considerations specific to revenue transactions, including controls, audit risk, fraud, and management estimates
  • Content for audit considerations developed by task force comprised of highly experienced industry experts

Who Will Benefit?

  • Accountants
  • Auditors

This continually updated resource ensures you always have the most recent revenue recognition guidance at your fingertips. It provides the latest audit and accounting amendments issued by the IASB, as well as key accounting implementation issues and audit considerations. Industry-specific examples of how to apply the new standard are also provided.

The comprehensive coverage means you’ll have expert guidance on everything from risk assessment and planning to hands-on execution tactics, giving you the in-depth knowledge critical for successful implementation.

This guide’s content will be updated as implementation issues are finalized, and can be tracked via the link below.

Contents of Publication as of 08/20/2018.

In order to receive updated content as quickly as possible, you can select from two options for delivery of new content as it becomes available. Those options include:

  • An annual online subscription that provides immediate access to new content as it’s added, available via our online professional library, or
  • A combination print/PDF, which includes a printed copy of the preface, general accounting, general auditing and appendix A, plus access to an online PDF of the entire guide that is updated regularly as implementation issues are finalized.

This guide has been developed by leading experts across the profession to provide the most comprehensive and reliable implementation guidance, including 16 industry task forces dedicated to unraveling complexities of this new standard. The current status of all implementation issues can be found here. Accounting guidance has been reviewed by the Planning Subcommittee of the AICPA’s Financial Reporting Executive Committee (FinREC), and, as always, auditing guidance in AICPA audit and accounting guides are issued under the authority of the Auditing Standards Board (ASB) and therefore considered authoritative guidance.

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American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialized credentials for qualified professionals who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.

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