The new GAAP for revenue recognition is very clear about this: it specifically carves out lease contracts. As a matter of fact, accounting applied by lessors will not change significantly when the new lease rules come into effect. If you are a lessor, you will continue to classify the major...
One of the most critical area when it comes to company health and progress is revenue recognition. Learn more today!
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Accounting Standards Codification ("ASC") 606, Revenue from Contracts with Customers (Accounting Standards Update 2014-09), referred to as "New GAAP revenue recognition," must be adopted by most U.S. public companies for annual and interim repo
No requirement for FV under UK This FV accounting would The fair value gain would be GAAP, which would allow a produce an increase in profits treated as unrealised gain and historical cost approach. The based on their earlier would not be taxable until alternative accounting rules in recognition...
Financial statement preparers' revenue decisions: Accuracy in applying rules-based standards and the IASB-FASB revenue recognition model U.S. GAAP and the software industry in particular, are on the verge of a major alteration in revenue-recognition accounting standards. The IASB-FASB joint ... ...
Although the ASB is pushing ahead with moving UK GAAP onto an IFRS-based framework, it has decided to defer the mandatory effective date of the revised framework to 1 January 2015. This is because of the interaction with the potential effective dates of new IFRSs, including revenue recognition...
2013 Annual Report 3 Section 1 Definitions and Material Risk Alert PRC, China PRC GAAP Interpretation No.2 Articles of Association Hong Kong Listing Rules Model Code for Securities Transactions Corporate Governance Code SFO People's Republic of China, for the purpose of this report only, excluding...
We believe the use of the non-GAAP measures of adjusted income before tax, adjusted net income, adjusted diluted EPS, adjusted return-on-equity, adjusted expense ratio, adjusted combined ratio and book value per share (excluding net unrealized gains and losses) enhances the comparability of...
and further improved the decision-making capability of the Board of Directors. The Board also undertook comprehensive revision of its corporate governance documents, including the Articles of Association, the rules of procedure for the shareholders’ general meeting and board of Directors and the regulat...