Quarterly accounting roundup: Q1 2023 update on important developments

Chris Chiriatti

Chris is a managing director in Deloitte’s National Office – Accounting and Reporting Services Group. Chris’ primary areas of expertise are revenue recognition, leasing, accounting for cloud computing arrangements and software development, business combinations, long lived assets, and CECL for commercial entities. Chris is also one of the primary authors of Deloitte’s Roadmap to Applying the New Revenue Recognition Standard and has also authored various other external publications addressing accounting for cloud computing arrangements, agile software development, CECL for commercial entities and revenue recognition. Chris is also the audit leader for Accounting and Reporting Advisory services where he oversees all accounting and reporting advisory service includes new standards implementation, accounting on-call advisory services, accounting for technology transformation, IFRS to US GAAP conversions and SEC reporting.

Eric Knachel

Eric is a senior consultation partner in the Professional Practice Group at Deloitte & Touche LLP with more than 25 years of experience. He leads Deloitte’s revenue recognition subject-matter team and provides guidance to audit practitioners and companies on complex financial accounting and reporting issues involving revenue recognition. Eric holds a bachelor’s degree in accounting from the University of Maryland. He is a CPA and a member of the American Institute of Certified Public Accountants.

Stephen McKinney

Stephen is a managing director in the Accounting and Reporting Services Group in Deloitte’s National Office in Stamford, Connecticut. In this role, he provides accounting consultations to engagement teams, monitors accounting standard-setting activities, and writes internal and external publications primarily on the accounting for leases and financial instruments. Prior to that, Stephen was a Practice Fellow with the Financial Accounting Standards Board (FASB) where he led the staff’s efforts on the financial asset impairment project. In this role, he actively participated in the standard-setting process by leading outreach efforts, developing and drafting issue papers, making recommendations to the Board on technical issues, and developing and drafting Accounting Standards Updates. Prior to his role in Deloitte’s National Office, Stephen worked in the Accounting Practices department of IBM primarily dealing with revenue recognition and leasing issues. Prior to his role at IBM, Stephen was a manager in the audit practice in Stamford, Connecticut (CT) with a focus on the consumer business and commercial printing industries. Stephen graduated from The University of Connecticut with a Bachelor of Science in Accounting. He is a Certified Public Accountant in Connecticut and is a member of the Association of International Certified Professional Accountants (AICPA) and Connecticut Society of Certified Public Accountants (CPAs).