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General OverviewStep 1: ContractStep 2: Performance ObligationsStep 3: Transaction PriceStep 4: Allocate RevenueStep 5: Recognize RevenueCase StudyOther IssuesIndustry-Specific Issues
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About
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Jasper Martin

Jasper is a senior technical accounting consultant in Connor Group’s Salt Lake office. Prior to joining Connor Group, he worked at EY in its Professional Practice Group and as an auditor for both public and private clients from a variety of industries. Jasper graduated from Brigham Young University with a Master of Accountancy, where he also spent time as an author at IPOhub’s affiliated site, RevenueHub.

Industry-Specific Issues

Common ASC 606 Issues: Mining Entities

Implementing ASC 606 requires a substantial amount of time and expertise, with specific challenges rising in each industry. Gain a deeper understanding of the key issues that mining entities face as they transition to ASC 606.
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Step 3: Transaction Price

Noncash Consideration

Determine the transaction price of a contract with noncash consideration under ASC 606, including when and how to measure the variable consideration caused by fluctuating fair value.
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