[Anonymous]

are these no longer tested? I flipped through new Becker lectures and those two are no where to be found. Ninja still has questions on it, and I know how to do both of these, but are they gone from testing????

[Recked]

I think that is part of the new Revenue Recognition rules, but not certain on it.
Suggest looking up Rev Recognition changes to see exactly what changed to confirm.
This was covered in a CPE class I took in November before I sat for FAR but I rejected the info from my brain so as not to mix anything up on the exam.

I also remember lease recognition was changing as well, but not sure when that is effective on the exam.
Thankfully I passed FAR on the first go and I don't issue GAAP financials.

[Anonymous]

@Recked Racing-the new revenue recognition standard is odd-the material is different per lectures, yet when you do the MCQ, it all seems to be the same and almost common sense, especially if you remember the conservatism principle…. I do issue GAAP financials but work for a private equity company so the revenue recognition guidance doesn't really affect us much. It appears that he franchise revenue recognition is gone as well from the lecture.

[Author]

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