FAR Section: Converged revenue recognition standards not to be tested until January 1, 2018. The AICPA Board of Examiners has decided that IFRS 15, Revenue from Contracts with Customers, will not be tested in the FAR section of the CPA Exam until January 1, 2018.
noun. 1  The definition of a tie is something that connects or bonds two or more people or things together. An example of a tie is two people being blood-related. 2  Tie is defined as a long narrow finished piece of fabric worn around the neck and under the collar of a button-down shirt.
Twist ties of different colors. A twist tie is a metal wire that is encased in a thin strip of paper or plastic and is used to tie the openings of bags, such as garbage bags or bread bags. A twist tie is used by wrapping it around the item to be fastened, then twisting the ends together (thus the name).