The New Revenue Recognition Framework Is Here
Although the revenue recognition rule may not significantly affect banks’ traditional revenue reporting, institutions will not know for sure until they have implemented the full, five-step process.
Browsing: Revenue recognition
OCC: Bank Trading Revenues Increase in Q1
Commercial banks reported total trading revenue of $5.8 billion in the first quarter of 2016, up from $4.3 billion in the previous quarter, according to the OCC’s Quarterly Report on Bank Trading and Derivatives Activities released today.
FASB to Defer Effective Date of Revenue Recognition Standard
The Financial Accounting Standards Board has approved an exposure draft that would defer the effective date of its new revenue recognition standard by one year.