TheCorporateCounsel.net

January 12, 2017

The Launch of “Broc Tales”!

I try to innovate with something new every year. In 2016, it was the “Big Legal Minds” podcast series. The year before was a facelift for the home pages of our sites (with new features like our “Job Board“). In 2014, I launched the “Women’s 100” events & started posting the popular videos on CorporateAffairs.tv.

For 2017, it’s this new “Broc Tales” blog – as well as a counterpart on DealLawyers.com, “John Tales” – which attempts to educate through storytelling. The stories on “Broc Tales” will relate to the topic at hand – Reg FD for the bulk of ’17. Within the stories, I’ll be throwing in personal anecdotes occasionally. Inspired by the writings of Sarah Vowell. Hoping to spice it up. Here’s the first two entries:

“Dude, You Wouldn’t Believe What Just Happened. Is That Normal?”
“Wanted: Reg FD Chaperone”

But maybe my life ain’t your cup of tea. Not much I can do about that. Go ahead & subscribe to this blog now (using this “Subscribe” link) so that you can receive my new entries pushed by email during the coming year! And if you do check it out, let me what you think! It’s a new style of writing for me, so I imagine I will be improving over time…

BrocTales

Revenue Recognition: What to Do Now

Here’s an excerpt from this blog by Cooley’s Cydney Posner (also see the memos posted in our “Revenue Recognition” Practice Area):

To assist audit committees in their oversight efforts, the Center for Audit Quality has just released a new publication, “Preparing for the New Revenue Recognition Standard,” a tool for audit committees. The publication is organized in four parts and provides important and sometimes quite specific and detailed questions for audit committees to ask management. The first section, Understanding the New Revenue Recognition Standard — What Is It?, is designed to help audit committees understand the new standard by providing a brief overview of its core principles. Generally, the new standard provides a five-step model for recognition of revenue “when the customer can use or benefit from the good(s) or service(s) provided.” The CAQ suggests that audit committee members ask management to explain the standard and how it affects (or does not affect) the company and encourages members to oversee the company’s decision regarding the appropriate transition method and consider the market impact.

Audit Engagement Partners: CAQ’s Take on Form AP

The CAQ recently published this white paper on the new Form AP. For more on this new reporting requirement for audit engagement partners, see the memos posted in our “Auditor Engagement” Practice Area.

Broc Romanek