Wiley Revenue Recognition: Understanding and Implementing the New Standard (Wiley Regulatory Reporting Book 7) by Joanne M. Flood delves into the complexities of the recently finalized converged FASB-IASB revenue recognition standard. This comprehensive guide is essential for financial statement preparers looking to navigate this significant change in accounting practices.

The book offers a thorough overview of the new model, walking readers through its application step-by-step with numerous practical examples. Detailed explanations and useful samples help readers understand the many new disclosures required under the standard. Additionally, electronic tools are available to assist in implementing the standards and ensuring proper disclosures.

As part of a decade-long project by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB), this principles-based standard will impact virtually every company globally. Wiley Revenue Recognition serves as an indispensable resource for professionals seeking to comply with these new guidelines, covering over forty topics that have been superseded by the new standard.

Included are digital ancillaries featuring measurement tools and GAAP and IFRS Disclosure Checklists, providing all the necessary tools to implement the new revenue recognition standard successfully. This book is a valuable asset for anyone dealing with financial reporting in today’s global business environment.