By Peter de Boer via Iris.xyz
Every year CFRA’s accounting experts produce an annual research report on the accounting hot topics all investors should understand.
Below is an excerpt of our 2017 report for your educational benefit.
The accounting hot topics for 2017 will include revenue recognition as the adoption deadline for the new global revenue recognition standard is less than a year away. Income taxes will also be a hot topic due to a number of FASB amendments issued in 2016 and the widely expected legislative actions on corporate taxes. Some companies may have to retrospectively change the classification of certain transactions on the cash flow statement. The FASB released 3 major final standards in 2016, credit losses, recognition and measurement of financial instruments and lease accounting, which generally will be effective in 2018-2020. Other major changes on the horizon include proposed changes to pension expense presentation and hedge accounting.
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