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Entries by Mike Wipper

Dissecting the New Revenue Recognition Guidance: Step 4 of the Five-Step Framework

Posted 12:50 PM by
Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, as amended, creates a five-step framework for entities to determine when and how much revenue should be recognized. The first article in the ‘Dissecting the New Revenue Recognition Guidance’ series discussed step 1: identifying the contract(s) with a customer. The second article in the series explained step 2: identifying performance obligations in the contract. The third article discussed step 3: determining the transaction price. This article focuses on step 4: allocating the transaction price to the performance obligations in the contract.
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Dissecting the New Revenue Recognition Guidance: Step 3 of the Five-Step Framework

Posted 2:00 PM by
Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers, as amended, creates a five-step framework for entities to determine when and how much revenue should be recognized. The first article in the ‘Dissecting the New Revenue Recognition Guidance’ series discussed step 1: identifying the contract(s) with a customer. The second article in the series explained step 2: identifying performance obligations in the contract. This article focuses on step 3: determining the transaction price.
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Financial Reporting for Tax Reform

Posted 5:00 AM by
The enactment of the Tax Cuts and Jobs Act of 2017 (TCJA) has received a lot of attention over the last several months from individuals and companies, with the primary focus on how the new legislation will impact tax payments and future tax rates.
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