General Overview
ASC 606 Five-Step Process
How and when a company recognizes revenue are critical indicators of a company's performance. Accounting Standards Codification (ASC) 606 provides five steps to recognize revenue from contracts with customers.
Implementing ASC 606
Get practical answers for the most common questions on what to expect when implementing ASC 606's standards in your business.
Overview of ASC 606
Collaboration between FASB and IASB resulted in ASC 606. Filers have choice between Full Retrospective and Modified Retrospective Adoption methods.
The Five-Step Method
Summary of each of the five steps of ASC 606 and key issues entities need to consider when completing each step.
Transition Dates and Methods
Stay up-to-date on an entity’s required ASC 606 transition date and its most beneficial transition method, which varies based on entity type and industry.
