Accrued revenue occurs when a company has earned revenue but hasn't billed a client for payment. To record accrued revenue, the company accountant debits accrued billings and credits revenue for the ...

Five years after the Financial Accounting Standards Board (FASB) first issued new revenue recognition rules, we finally get to see its impact on reported financials. The new standard was originally ...

Identifying and assessing the risks of material misstatement due to fraud are among the most challenging aspects of auditing in recent years, according to outreach conducted by the AICPA Auditing ...