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2016

May 9, 2016 — SEC Staff Comments on New Revenue Standard at Baruch Conference

SEC Staff Comments on New Revenue Standard at Baruch Conference

Accounting Journal Entry
May 9, 2016 — At the 2016 Baruch College Financial Reporting Conference in New York City last week, Wesley Bricker, deputy chief accountant in the SEC’s Office of the Chief Accountant (OCA), discussed transition issues related to the FASB’s new revenue standard (ASU 2014-091). He reiterated his support for the TRG’s2 implementation activities, particularly given the significant judgment entities must use in applying the new revenue standard, and noted that the OCA continues to “encourage management, auditors, and others to refer interpretive issues to the TRG.”

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