Draft illustrative financial statement note: Revenue recognition
FINANCIAL REPORTING INSIGHTS |
The American Institute of Certified Public Accountants (AICPA) Stockbrokerage and Investment Banking Expert Panel has developed a working draft of an illustrative note regarding revenue recognition for SEC-registered broker-dealer financial statements in the year of adoption of ASC 606, Revenue from Contracts with Customers. Interested parties are encouraged to submit feedback regarding the illustrative draft note by March 4, 2019. RSM partner Paul Nockels is a member of the AICPA Stockbrokerage and Investment Banking Expert Panel and participated in the development of this draft.