AICPA committee seeks private company relief from some elements of revenue standard

AICPA committee seeks private company relief from some elements of revenue standard

An AICPA committee has asked FASB to provide relief for private companies and certain conduit debt obligors from some elements of the new revenue recognition standard.

In a letter to FASB dated Jan. 17, the AICPA Private Companies Practice Section Technical Issues Committee (TIC) wrote that certain recognition and measurement decisions were made during the standard’s development before the Private Company Council (PCC) was created.

The PCC advocates for private companies during FASB’s development of standards and initiates the process of private company GAAP alternatives when necessary. TIC wrote that the magnitude and significance of the new revenue recognition standard warrants consideration of recognition and measurement differences for private companies, as well as the earlier effective date and disclosure differences for certain conduit debt obligors.

TIC requested that FASB:

“We do not believe that certain individual requirements … in determination of the amount and timing of revenue to be recognized provide relevant information to users of private company financial statements at a reasonable cost,” TIC wrote.

Ken Tysiac (Kenneth.Tysiac@aicpa-cima.com) is a JofA editorial director.

Research & References of AICPA committee seeks private company relief from some elements of revenue standard|A&C Accounting And Tax Services
Source

31 thoughts on “AICPA committee seeks private company relief from some elements of revenue standard

  1. Pingback: viagra discount
  2. Pingback: cialis 10mg
  3. Pingback: canadian cialis
  4. Pingback: online cialis
  5. Pingback: ed pills otc
  6. Pingback: ed pills otc
  7. Pingback: new ed pills
  8. Pingback: online pharmacy
  9. Pingback: cialis online
  10. Pingback: levitra canada
  11. Pingback: red dog casino
  12. Pingback: generic viagra
  13. Pingback: slots online
  14. Pingback: payday advance
  15. Pingback: quick cash loans
  16. Pingback: viagra 100mg
  17. Pingback: cialis buy
  18. Pingback: cialis 20
  19. Pingback: new cialis
  20. Pingback: willa
  21. Pingback: cialis 5 mg
  22. Pingback: real online casino
  23. Pingback: viagra pills

Leave a Reply