SEC Staff Accounting Bulletin No. 101--Revenue Recognition in Financial Statements (2000).(Securities and Exchange Commission)

Ohio CPA Journal, The, October, 2001 by Bloom, Robert; Schirm, David

An analysis is presented of the views of the staff of the Securities and Exchange Commission (SEC) on revenue recognition requirements of generally accepted accounting principles to be used in financial reporting. Registrant companies face a significant number of issues determining revenue recognition.

The views of the SEC are contained in Staff Accounting Bulletin (SAB) 101 on "Revenue Recognition in Financial Statements (2000)." A SAB is a written document containing the interpretation of the practice of the SEC'S Division of Corporation Finance and the Office of the Chief Accountant when performing their functions. A SAB is not a commission rule.

SAB 101 was issued in response to the recent wave of SEC-reporting companies that have been under...

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