Identifying and assessing the risks of material misstatement due to fraud are among the most challenging aspects of auditing in recent years, according to outreach conducted by the AICPA Auditing ...

Another major issue in revenue accounting is when to recognize or record the revenue. A common practice is to record the revenue when we receive payment (cash) from the customer. This is referred to ...

One of the most difficult challenges for some auditors as 2019 comes to an end is maintaining their independence amid the frustration and confusion of their clients over the implementation of FASB’s ...

Five years after the Financial Accounting Standards Board (FASB) first issued new revenue recognition rules, we finally get to see its impact on reported financials. The new standard was originally ...