Lease Accounting Rev Rec Handout.pdf


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5/30/2017

Are You Ready for the New Rev Rec
AICPA industry guides (as of May 20, 2017) - Available to all on AICPA Website
















Industry groups
Aerospace & defense
Airlines
Broker dealers
Construction contractors
Depository institutions
Gaming
Health care
Hospitality
Insurance
Investment companies
Not-for-profit
Power & utility
Software
Telecommunications

Issues identified Papers exposed Finalized
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10
9
15
14
6
9
9
3
9
8
3
2
1
16
12
4
9
7
3
7
4
3
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9
4
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4
3
3
11
1
12
6
3
12
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1

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HELPING YOU GET THERE

Leases - A Big Change
• Almost all companies have leases
• Almost all leases will go on the balance sheet
• Biggest challenge – Data!
– Lease data now is off-line in excel
– Now we have a disclosure only mentality
– Will soon be financial transaction monthly

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HELPING YOU GET THERE

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