Peeling away financial reporting issues one layer at a time

» Revenue Recognition

Another “Case” of Terrible Decisions Borne of Terrible Accounting Rules

My parable about GM's earnings-management-driven pension decisions inspired a friend of this blog (let's call him Mark) to share a story from around the same time period.

I worked at J. [Read More...]

Accounting without Rules — or Principles

Ted's Accounting Question

My friend, Ted (not his real name), is the ex-treasurer of a very large public company where he acquired extensive experience in solving accounting problems. He departed a few years ago [Read More...]

The Revenue Recognition Project: Death by a Thousand Comments

The revenue recognition project has become a mess. Even the AICPA was forced to say as much to the FASB, while at the same time knowing that it would likely kill any prospects [Read More...]

Is Revenue Recognition the Death Knell for IFRS Adoption?

It is said that big surprises come in small packages. Last week's "small package" was a brief article in the AICPA's online edition of its Journal of Accountancy, reporting that its own Financial [Read More...]

Making Revenue Recognition Simple and Informative

One thing that everyone should be able to agree on is that the accounting rules for measuring and reporting revenue ("revenue recognition") are a huge mess. There are too many of them, and far [Read More...]

Going to School on Revenue Recognition

I'm a night owl, but once I hit the sack, I'm out like a light for 8-9 hours. In fact, the two things I would say that I do best are type fast and [Read More...]