Understanding & Accounting for Cryptocurrency Payments
This article addresses the trajectory of the digital asset world and its relation to accounting principles.
ASC 606 and the 2020 AICPA Conference
In the recent 2020 AICPA conference, revenue recognition was a hot topic, especially relating to principal-agent guidance and identification of performance obligations.
SEC Commentary on ASC 606 Revenue Recognition Disclosures
Learn about which ASC 606 disclosures are getting the most SEC comments.
ASC 606 and ASC 842 (Leases)
ASC 842 practical expedient and leaseback terms are just some of the ways the standard interacts with ASC 606.
Guidance for loss contracts is not included in ASC 606, but is instead included in ASC 605.
ASC 606 and ASC 326 (CECL)
Analysis of how ASC 326 (CECL) relates to ASC 606 and its implications for businesses.
COVID-19 Impact on Revenue Recognition
COVID-19 impacts much of the revenue model. Learn which parts of your revenue policy and procedures may need to be adapted in response to the recent pandemic.
Adopting ASC 606 has caused some entities to never recognize certain deferred revenue. See how this lost revenue was disclosed under both adoption methods.
SEC Comment Letters on ASC 606
Top 10 most frequent ASC 606 topics in SEC comment letter threads with representative comment letter excerpts.
SEC Commentary to Early Adopters
This article explains what types of behavior with regards to implementing the new revenue recognition standard are receiving comments from the SEC.
Overview of FASB’s Revenue Recognition Implementation Q&As
Learn about the objectives and contents of the FASB’s newly released Revenue Recognition Implementation Q&As.
Revenue from Collaborative Arrangements in ASC 606
Review the basics of ASC 808, Collaborative Arrangements, and learn how ASC 606 applies when collaborators exchange consideration in an illustrative case study.
PwC Revenue Recognition Survey and SAB 74 Disclosure Guidance
Key findings of PwC's Revenue Recognition Survey and guidance on using this interactive tool. Expectations and best practices for SAB 74 Disclosures.
SEC Makes TRG Discussions Authoritative
Statements made by Chief Accountant of the SEC imply a more authoritative role for the Revenue Recognition TRG; this may have unintended consequences.
Sales- and Usage-Based Royalties in ASC 606
Analysis and examples of ASC 606's sales- and usage-based royalty exception criteria and how to recognize revenue using the exception
Presentation of Contract Assets and Contract Liabilities in ASC 606
Analysis and examples of contract assets and liabilities under ASC 606, including balance sheet presentation and implementation effects
Installation and Implementation Services in ASC 606
Analysis of the three factors for determining separate performance obligations and assessing the timing of revenue recognition for installation and implementation services
Comment Letter to Proposed Amendments
FASB Comment Letter on proposed amendments to ASU Topic 606 regarding narrow-scope improvements and practical expedients.
Costs to Fulfill a Contract in ASC 606
Analysis of ASC 606's treatment of contract fulfillment costs, including scope considerations, the capitalization criteria, amortization, and impairment.
Contract vs. Portfolio Method in ASC 606
Specific criteria must be met for the portfolio method to be used as the practical expedient under ASC 606.
Completed Contracts at Transition
For transitional purposes, the determination of whether contracts are completed or incomplete under the full or modified retrospective methods.
Disclosures in ASC 606
Description of ASC 606's disclosure requirements regarding contracts with customers, significant judgments involved, and contract cost related assets.
Warranty Obligations in ASC 606
Analysis and examples of the two types of warranties under ASC 606 and the three factors used to distinguish between these types.
Incremental Costs of Obtaining a Contract
Analysis of incremental costs under ASC 606, including identifying the incremental costs, the criteria for capitalization, and how to amortize these costs.
Licenses for Intellectual Property
Key accounting issues that arise from licenses of intellectual property under ASC 606, including changes from ASC 605.