Guided product tour | LocalGAAP

Perimeter — The team establishes the entity, reporting basis, regulator context, period, transaction, and decision owner.

Source — Primary literature and related official material are routed by reporting context and effective period.

Facts — Rights, obligations, control indicators, contracts, systems, and missing facts form a reviewable record.

Compare — The workspace separates source statements, fact application, alternatives, judgments, and disclosure effects.

Review — A qualified reviewer challenges the perimeter, source set, fact completeness, alternatives, and rationale.

Position — The accepted position, rationale, mapping, disclosure impact, approver, and future reassessment trigger are retained.

Revenue principal-versus-agent assessment

Perimeter: U.S. nongovernmental entity — FASB reporting context

Topic: Revenue · principal vs agent — Question scoped

Sources: SRC-00192 — Primary literature set

Analysis: ANA-00064 — Alternatives compared

Position: POS-00028 — Professional review

FASB issues Topic 818 for environmental credits and obligations → Compare: Move the update into a source-to-fact-to-accounting comparison before any group mapping is accepted.

FASB clarifies initial measurement of PIK dividends → Review: Route the proposed measurement and transition position to qualified accounting review.

FRS 102 Periodic Review 2024 enters its principal effective period → Compare: Route the FRC change into an entity-by-entity transition assessment before policy, systems, or group mappings are accepted.

Confirm reporting perimeter

Interpret authoritative literature

Apply professional judgment

Approve the group position

All records, statuses, people, entities, amounts, and workflow states in the public product tour are illustrative. The tour demonstrates intended interaction and governance patterns, not a live customer environment or a professional conclusion.