Josh Mortensen and Aubrey Schwendiman
Adopting ASC 606 has caused some entities to never recognize certain deferred revenue. See how this lost revenue was disclosed under both adoption methods.
Review the basics of ASC 808, Collaborative Arrangements, and learn how ASC 606 applies when collaborators exchange consideration in an illustrative case study.
Chapman Ellsworth and Alexis Berrett
This article explains what types of behavior with regards to implementing the new revenue recognition standard are receiving comments from the SEC.
Jeff Wilks and Lydia Sheffield
Key findings of PwC's Revenue Recognition Survey and guidance on using this interactive tool. Expectations and best practices for SAB 74 Disclosures.
Description and examples of revenue recognition for licenses of intellectual property under ASC 606, including determining license nature and timing of recognition.
Cole Moffat and Jeff Wilks
Statements made by Chief Accountant of the SEC imply a more authoritative role for the Revenue Recognition TRG; this may have unintended consequences.
FASB Comment Letter on proposed amendments to ASU Topic 606 regarding narrow-scope improvements and practical expedients.
Haoran Jiang and Cassy Budd
For transitional purposes, the determination of whether contracts are completed or incomplete under the full or modified retrospective methods.
Analysis and illustrative examples of the three criteria an entity must meet to apply the portfolio method as a practical expedient.
Analysis of ASC 606's treatment of contract fulfillment costs, including scope considerations, the capitalization criteria, amortization, and impairment.
Austen Harris and Cassy Budd
Description of ASC 606's disclosure requirements regarding contracts with customers, significant judgments involved, and contract cost related assets.
Analysis of incremental costs under ASC 606, including identifying the incremental costs, the criteria for capitalization, and how to amortize these costs.
Analysis of the three factors for determining separate performance obligations and assessing the timing of revenue recognition
Analysis and examples of contract assets and liabilities under ASC 606, including the balance sheet presentation and the impacts of rights to payment.
ASC 606's exception criteria for sales- and usage-based royalties, including the process for recognizing revenue for these exceptions.