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SEC issues controversial guidelines on revenue recognition
Author(s) -
Weirich Thomas R.,
Rouse Robert W.
Publication year - 2000
Publication title -
journal of corporate accounting and finance
Language(s) - English
Resource type - Journals
eISSN - 1097-0053
pISSN - 1044-8136
DOI - 10.1002/1097-0053(200011/12)12:1<57::aid-jcaf9>3.0.co;2-3
Subject(s) - revenue recognition , accounting , revenue , business , financial accounting , finance , accounting information system
Sixty‐two percent of financial fraud cases prosecuted by the SEC in a recent year involved revenue recognition. Now SEC has issued guidelines that could help your company stay out of trouble. But some charge that the latest Staff Accounting Bulletin (SAB) actually changes the generally accepted accounting principles (GAAP). © 2000 John Wiley & Sons, Inc.