AICPA Issues Revenue Working Draft for Broker-Dealers

January 10, 2019

The AICPA’s Financial Reporting Executive Committee has released for public comment a working draft for broker-dealers that addresses an illustrative note to financial statements that is associated with the implementation of the new revenue standard.

opics addressed in the working draft include:

Significant judgments.
Investment banking.
Asset management.
Costs of obtaining or fulfilling a contract with a customer.
Disaggregated revenue from contracts with customers.

Comments on the working draft are due by March 4, 2019. For more information, see the revenue recognition resource page on the AICPA’s Web site.