Howard B. Levy, CPA, is a principal and director of technical services at the Las Vegas-based firm of Piercy Bowler Taylor & Kern. He is a former member of the AICPA’s Auditing Standards Board and its Accounting Standards Executive Committee and is currently a member of its Center for Audit Quality’s Smaller Firms Task Force. He is also a member of the editorial board of, and frequent contributor to, The CPA Journal, published by the New York State Society of CPAs, where he also serves on its Auditing Standards Committee.
A new accounting standard issued by the Financial Accounting Standards Board will affect financial reporting of casino operators. It won’t be easy, but here’s what savvy operators should be...