two people discussing strategy
Resources

Opening A/R balance disclosure: 2nd year FASB ASC 606 disclosure trap

May 18, 2022 · 203.4 KB Download

FREE ACCOUNT

ACCESS

Resource

available

We recently wrote about initial matters for further consideration (MFCs) in peer review citing FASB Accounting Standards Codification (FASB ASC) 606, Revenue from Contracts with Customers. In that report, we discussed FASB ASC 606 disclosure omissions. In particular, we discussed the disclosure requirement under FASB ASC 606-10-50-11 which requires private companies to disclose the opening and closing balances of receivables, contract assets, and contract liabilities from contracts with customers, if not otherwise separately presented or disclosed. We continue to receive

Download the CPEA report: Opening A/R balance disclosure: 2nd year FASB ASC 606 disclosure trap

File name: cpea_may_2022_report_opening_ar_disclosure.pdf

Already a member?

Log in with your account
 
Forgotten email
Forgotten password

Not a member?

To gain access to exclusive content, your first step is to join the AICPA & CIMA.

Related content

}